Friday 14 August 2020

OFID finances energy projects worth $1.6bn

The Opec Fund for International Development (OFID) is financing energy projects worth $1.6 billion in Arab countries, said  Suleiman Al-Herbish, director-general of OFID.   He said that support to developmen


OFID approves over $454m of new funding

The Opec Fund for International Development (OFID) has approved more than $454 million of new development funding to benefit developing countries across the globe, a media report said. OFID’s newly-approved public sector loa


Opec approves $320m development funds

The Organization of the Petroleum Exporting Countries (Opec) has approved new funds worth more than $320 million for setting up key projects in developing countries across the world, said a report. The loans underline the internat


StanChart inks $500m OFID agreement

Standard Chartered has signed a $500 million risk-sharing programme with the Opec Fund for International Development (OFID). OFID will guarantee letters of credit (LC) issued by banks in developing countries to support trade transactions o

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