OPEC Fund for International Development approves $50M financing to boost international trade with ECOWAS

Economic governance
Friday, 18 December 2020 15:37
OPEC Fund for International Development approves $50M financing to boost international trade with ECOWAS

(Togo First) - Last Wednesday, the board of directors of the OPEC Fund for International Development approved at its headquarters in Vienna a $50 million financing to support international trade with West Africa. 

The institution’s support comes as Africa, following a schedule validated last December 5th, prepares to launch next month the African free trade zone.  

Besides West Africa, other countries that will benefit from the funds are The Gambia ($20 million), Madagascar ($15 million), Rwanda ($20 million), Sierra Leone ($15 million), Egypt ($30 million), and Uzbekistan ($75 million). 

It should be recalled that the OPEC Fund for International Development was an important member of the consortium that financed the construction of the Lomé Container Terminal. The total cost of this project was €324 million. 

Séna Akoda

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