OFID signs $200m loan agreements in 7 countries

The OPEC Fund for International Development (OFID) has signed public sector loan agreements worth almost $200 million. The funds include $53.2 million in Egypt for the rehabilitation of irrigation and draining pump stations in a bid to raise agricultural production, and $20 million in Madagascar for the Inclusive Agriculture Transformation Program. The scheme aims to boost incomes and food security for around 1.6 million farmers via high-performing production systems adapted to climate change.