UAE- OFID approves US$10 million COVID-19-related loan to Guatemala

(MENAFN- Emirates News Agency (WAM)) VIENNA, 20th June, 2020 (WAM) -- The OPEC Fund for International Development, OFID, has approved a US$10 million public sector loan to support Guatemala's COVID-19 emergency response and public health strategy.

OFID has also approved emergency aid grants to support COVID-19-related World Health Organisation, WHO, efforts in Latin America.

The Guatemala loan will enable the Central American country to strengthen case detection, community health worker training, emergency care infrastructure and help with other essential COVID-19-related activities. The World Bank and the Guatemalan government are also supporting the project.

OPEC Fund grants totaling US$1,000,000 were channeled through WHO to support the purchase and distribution of much needed consumables and equipment related to the health crisis in Ecuador and Venezuela.

Commenting on the loan, OPEC Fund Director-General Dr. Abdulhamid Alkhalifa said, "This is the time for the development community to come together to meet the urgent needs of developing countries. We need to be flexible and responsive to quickly changing circumstances and make sure assistance reaches those who need it most, and fast. The OPEC Fund is committed to doing everything possible to support developing countries' efforts to mitigate, contain and recover from the destabilising effects of the COVID-19 pandemic."

The OPEC Fund has dedicated US$1 billion toward COVID-19 impact and recovery efforts in developing countries and has joined forces with many other development institutions to maximise impact.

OFID was established in January 1976 by the then 13 member countries of OPEC; including the United Arab Emirates. It is the development finance institution established as a channel of aid to developing countries.

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