The OPEC Fund for International Development (the OPEC Fund), says at its 195th Governing Board meeting, approved US$890 million in new financing to support development operations across Africa, Asia, Latin America & the Caribbean, and Europe. From the amount, Botswana got a US$170 million loan for the Governance and Economic Resilience Support Program to strengthen fiscal sustainability, enhance transparency and promote private sector-led, inclusive growth.
According to OPEC Fund, the program will expand access to finance for youth and women-led MSMEs, increasing the number of supported enterprises from about 900 in 2024 to 2,000 in 2026. The financing will strengthen infrastructure and transport connectivity, enhance food security and climate resilience and support private sector development. It will also expand access to finance for micro, small and medium-sized enterprises (MSMEs) and scale up climate-focused investments.
OPEC Fund President Abdulhamid Alkhalifa said: “At a time of heightened uncertainty and mounting development pressures, the OPEC Fund is stepping up to deliver reliable, high-impact support. These approvals reflect the continued solidarity of our member countries and our shared commitment to protect hard-won development gains, expand opportunities and help communities move forward under challenging conditions.
By investing in resilience and sustainable growth, we aim to make a tangible difference in people’s everyday lives.” The OPEC Fund for International Development (the OPEC Fund) is the only globally mandated development institution that provides financing from member countries to non-member countries exclusively.