African countries receive loan for infrastructure improvements
2 March 2011
Projects in key development sectors for four different countries will be carried out thanks to a new agreement.
The OPEC Fund for International Development (OFID) and representatives from Ethiopia, the Gambia, Niger and Sierra Leone have come to an agreement over getting $62.4 million (£38 million) to finance schemes.
Ethiopia is set to improve its energy infrastructure, with $20 million put aside for a development, while Niger will use some of the $18.36 million coming its way to start work on a road rehabilitation project.
Water and sanitation problems will be addressed in Sierra Leone, while the remainder of the money will go towards a university programme in the Gambia.
Suleiman J Al-Herbish, director-general of OFID, said: "[Support for Africa] will continue to grow, in view of the needs of the continent."
Ethiopia recently announced a 6,000MW hydropower scheme that will be headed up by the Ethiopian Electric Power Corporation and Salini Costrutori, Pumps and Systems reported.