OFID Targets Sustainable Development With Four African Countries

VIENNA, February 23, 2011 - The OPEC Fund for International Development (OFID) and four
African countries (Ethiopia, the Gambia, Niger and Sierra Leone) today signed
loan agreements totalling to US$62.4 million to finance projects in key
development sectors - energy, education, transport, water and agriculture.
Ethiopia will receive US$20 million to pursue an "Energy Access Project";
while the Gambia obtains US$5 million for a "University of the Gambia
Project"; Niger, two loans for US$18.36 million for a "Road Rehabilitation
Project" and a "Rural Development Programme"; and Sierra Leone, US$19 million
for a "Water Supply and Sanitation Project".

More than 105 million people live in these four countries
where the projects are expected to benefit a broad sweep of people.

All five projects will be co-financed by the concerned
governments and a number of international institutions, including the African
Development Bank, the Arab Bank for Economic Development in Africa, the
International Development Association, the International Fund for
Agricultural Development and Banque ouest-africaine de développement.

At today's signature ceremony, OFID Director-General, Mr.
Suleiman J. Al-Herbish pledged that OFID's support to Africa "will continue
to grow, in view of the needs of the continent." He disclosed that in 2010,
OFID's financial assistance to Africa amounted to US$737 million or 54% of
the institution's total commitments."

About OFID

OFID's primary aim is to contribute to the socio-economic
advancement of developing countries. OFID is present in almost all sectors of
development and is effectively contributing to global efforts toward meeting
the MDGs and the "missing 9th goal" which is the eradication of energy
poverty, a key pillar for sustainable socio-economic growth and poverty
reduction.

Since its inception, OFID has committed more than US$13
billion in support of sustainable development. For more information please
visit: www.ofid.org.

    Contact and information:

    Mrs. Damelys Delgado
    Information Officer
    Email: D.Delgado@ofid.org
    Tel.: +43-1-515 64-304

Contact and information: Mrs. Damelys Delgado, Information Officer, Email: D.Delgado at ofid.org, Tel.: +43-1-515 64-304