Vietnam Says Saudi Aramco Wants to Invest in Oil Refining, Petrol Distribution

Oil giant Saudi Aramco wants to invest in the oil refinery sector and petroleum distribution in Vietnam, the Southeast Asian country's government said in a statement issued late on Tuesday.
The announcement came after a meeting between Prime Minister Pham Minh Chinh and Saudi Aramco's chief executive officer Amin Al-Nasser in Riyadh during Chinh's visit to the Middle East.
"Vietnam has great potential in the region, therefore, Aramco wishes to invest in oil refinery and petrol distribution in the country," the Vietnamese government statement said.
Aramco urged authorities to create favorable conditions to boost cooperation with Vietnamese partners, the statement added.
It did not elaborate on the time frame or the size of the investment.
Aramco and Vietnam Oil and Gas Group (PVN) signed a memorandum of understanding on cooperation in the field of oil and gas trade, which the Saudi firm said in a release paved the way for "potential cooperation spanning the storage, supply and trading of energy and petrochemical products".
"This agreement lays the foundation for potential collaboration across the hydrocarbon value chain," Aramco Downstream President Mohammed Y. Al Qahtani said in the release.
Aramco has been selling crude oil to Vietnam, but has yet to make any investment in the country.
31/10/2024
Qatar Charity Distributes New Food Aid in Yemen

As part of its ongoing efforts to aid those affected by floods in Yemen, Qatar Charity (QC), with support from the Start Fund, has distributed a new batch of aid including food baskets and personal hygiene kits.
This aid has benefitted about 1,100 individuals in the Hajjah and Al Hudaydah governorates, bringing the total number of beneficiaries from QC's assistance to around 23,000 people, a statement said.
QC is preparing to distribute further aid to flood victims in several areas, which will include 3,500 food baskets, each containing essential food supplies sufficient for one family for a month, and 3,500 personal hygiene kits.
This initiative comes amid the worsening humanitarian crisis that Yemen has been facing for several years, characterised by increasing food insecurity and the ongoing cholera outbreak since March of this year, especially following the recent floods.
Data from UN organisations has reported nearly 186,000 suspected cholera cases in the past six months, with 680 fatalities. An increase in cases is expected following the recent heavy rains across Yemen. Children suffering from malnutrition, pregnant women, and the elderly with chronic illnesses are particularly at risk for cholera.
The aid provided has been instrumental in addressing the urgent basic needs of those affected by the floods, particularly in terms of food and personal hygiene, leaving a positive impact on the beneficiaries.
Zahra Abkar, 80 years old, said: "We thank Qatar Charity for their assistance, which we desperately need."
From August to the end of September, QC distributed relief aid to flood victims in the Al Hudaydah, Hajjah, and Marib governorates, which included 3,250 food baskets, 2,100 personal hygiene kits, and 1,150 shelter kits, benefiting a total of 22,750 people, the statement added.
31/10/2024
Investments in Saudi Health Tech Revealed

Saudi venture capitalist Prince Khaled bin Alwaleed announced five new investments during the Future Investment Initiative in Riyadh on Tuesday.
Prince Khaled explained exclusively to Arab News that the five new portfolio companies were focused on the medical technology and health technology sectors.
The royal investor also emphasized his company KBW Ventures’ alignment with Saudi Arabia’s deployment of capital in bioscience and biotechnology.
He said: “We actually have a long footprint in biosciences, but the focus on health technologies and medtech was relatively small until the past 18 months.
“One of our first investments in this health space years ago was a Canadian company that is refining the allergy testing experience, a next-gen solution.
“We haven’t disclosed any of these five publicly yet, and there’s more in the pipeline that we are in the due diligence process for now.”
Three of KBW’s new ventures — Truelli, Qvin, and CytoSPAR — specialize in different types of diagnostics using advanced proprietary technology.
NeuroPlan is an app that aims to democratize neurological insights by helping users to track and improve cognitive capacity, while the fifth company, Rula Health, is a telehealth startup seeking to address mental health issues.
Prince Khaled added that KBW Ventures, aligned with the Saudi government’s focus on improving the overall health of its population, was also assessing several other businesses for potential investment that aimed to slow the aging process and improve lifespan.
He said: “I’ll be in a conclave around healthy aging solutions at FII addressing technologies that we are looking at in the longevity sector.”
The prince, who is a vegan and fitness aficionado, stressed that early disease detection, prevention, and personalized medicine were all areas that captured both his attention and capital.
During his panel discussion Prince Khaled noted that while KBW Ventures previously focused on early-stage investments, the firm has now moved into growth stage funding.
He said: “A survey of US companies that raised Series A funding and went on to close Series B saw an average of 28 months between rounds; it hasn’t been like that since 2012.”
31/10/2024
Qatar Chamber Reviews Ties with Federation of Egyptian Chambers of Commerce

Qatar Chamber board member Ibtihaj al-Ahmadani has met with ICC World Chambers Federation board member Reem Siam to discuss several topics of importance to both organisations. Al-Ahmadani is also the president of the Qatar Businesswomen Forum, while Siam is the president of the Economic Businesswomen Council at the Federation of Egyptian Chambers of Commerce and the president of the Economic Businesswomen Council of the Alexandria Chamber of Commerce.
During the meeting, both officials discussed cooperation relations between Qatar Chamber and the General Federation of Egyptian Chambers of Commerce and means of enhancing them to contribute to the development initiatives between the business sectors in both countries. Al-Ahmadani lauded the close fraternal relations between both countries, pointing out the importance of enhancing trade exchange and increasing joint investments, which contributes to achieving sustainable development.
31/10/2024
Iran to Dispatch 10 New Commercial Attachés to Target Markets

Iran is going to send 10 new commercial attachés to its economic partner countries by the end of the current Iranian calendar year, an official with Iran’s Trade Promotion Organization (TPO) announced.
According to Mohammad-Sadegh Ghanadzadeh, Iran currently has 20 commercial attachés active in other countries and the number will be increased to 30 with new attaches starting their work, Mehr News Agency reported.
“There is currently one commercial attaché in each of the neighboring countries, two in China, Vietnam, and Africa, each, and one business advisor in the European countries of Serbia and Hungary,” Ghanadzadeh said.
According to the estimates, we should have 60 commercial attachés to provide good coverage for our target countries, and in our estimation, more than one advisor is considered for neighboring countries such as Turkey, Pakistan, India, and Iraq, he noted.
Maintaining relations and developing them, removing trade barriers between countries, solving the problems of businessmen of both sides, and laying the groundwork for joint programs, including exhibitions and commissions, are among the duties of commercial attachés.
In September 2023, Mohammad Rajab-Nejad, the head of TPO’s Department of Commercial Attachés and Trade Centers, said TPO was going to attract capable economic experts to be sent as commercial attaché to target countries.
“We currently have 17 commercial attaches based in Iraq (Baghdad), Oman, China (Beijing), Armenia, India, Qatar, Afghanistan, Lebanon, Belarus, Russia, Kenya, Algeria, Turkey, Kazakhstan, South Africa, UAE and Uzbekistan,” the official said.
Attachés are also about to be sent to Serbia, Brazil, and Pakistan, and they will be deployed soon, he added.
“We are planning to send two more attachés to the cities of Sulaymaniyah (Kurdistan region) and Basra in Iraq and two more advisors are also going to be sent to Shanghai and Guangzhou in China,” Rajab-Nejad said.
According to the official, sending attachés to Indonesia, Turkmenistan, Nigeria, Zimbabwe, Venezuela, Hungary, Poland, Syria, and Saudi Arabia was also on the agenda.
Rajab-Nejad previously said that the number of Iran’s trade centers in foreign countries has also increased significantly over the past two years, so that currently Iran has trade centers in 40 different countries around the world. - Tehran Times
31/10/2024
Diesel Delivery to Power Plants Up: Iranian Official

The managing director of National Iranian Oil Products Distribution Company (NIOPDC) stated that the delivery of diesel to power plants has increased by 20% this year.
In an interview with Shana, Keramat Veis-Karami, also denied some claims about a 30% reduction in liquid fuel delivery to power plants, adding the volume of liquid fuel delivery to power plants this year (March 2024-25) is 36% above the similar period last year.
He added that NIOPDC has mobilized all resources and capabilities in the production, transfer, and distribution of products including strengthening infrastructure for transporting oil products, such as pipelines and road, rail, and sea transport fleets, to supply liquid fuel to power plants in the second half of the year according to approved plans.
The managing director also emphasized the necessity of interaction, cooperation, and collaboration of all related bodies in fulfilling assigned duties to overcome the challenging winter conditions ahead. - Shana
31/10/2024
Investment for Service Projects in Iraq's Wasit Province

Prime Minister Mohammed Shia Al-Sudani has announced the approval of eight new service projects in Wasit Province, at a total cost of 236 billion dinars (US$180 million).
The projects focus on improving water and sewerage infrastructure, including:
Al-Bashaer sewerage project
Al-Dhahab/Zurbatiya sewerage project
Badra sewerage project
Al-Hafriya sewerage project
Al-Zubaidiya sewerage project
Sewerage treatment plant with pipelines in Al-Shahemiya
Sewerage treatment plant with pumping station and pipelines in Al-Dabuni
Sewerage treatment plant with transmission lines in Wasit
These projects aim to enhance essential infrastructure and public services in the province.
31/10/2024
X-Noor Unveils Key Solar, Storage Solutions at Saudi Expo

Leading solar developer X-Noor, a joint venture between global solar leader X-ELIO and GCC infrastructure group Dutco, showcased its premium storage technologies as well as its smarter energy-efficient solutions at The Solar &Storage Live KSA & Future Energy Live KSA 2024 held recently in Riyadh.
Held at the Riyadh Front Exhibitions and Conferences Center, The Solar Show KSA attracted key stakeholders from across the energy sector.
The event brought together utilities, IPPs, financiers, government officials, and energy innovators to address the region’s energy challenges and future-proof its infrastructure.
X-Noor said its key solutions took centerstage at The Solar Show KSA, the largest renewable energy exhibition in Saudi Arabia, for the first time having made significant progress toward the region’s renewable energy goals, the premier provider of sustainable solar energy solutions.
X-Noor participated alongside over 300 exhibitors, more than 150 speakers, and 10,000 attendees, contributing to discussions on the future of renewable energy.
The two-day event featured major solutions providers at the forefront of the transition to a greener, smarter, more energy-efficient kingdom.
Marking X-Noor’s presence at the Solar Show KSA 2024, its Chief Technology Officer Wasif Shaikh took part in a panel discussion, leading the ‘Decarbonization Pathways for the C&I Sector in KSA’ session, offering valuable insights into the future of renewable energy for the commercial and industrial sectors.
During his talk, Shaikh highlighted the key drivers of solar PV adoption in the region, such as Saudi Arabia’s Vision 2030 and the growing demand for electricity. It comes as part of its commitment to advancing renewable energy and decarbonization.
The CTO also provided updates on regulatory frameworks supporting renewable energy for C&I customers, emphasizing the importance of Power Purchase Agreements (PPA) and energy efficiency measures in achieving decarbonization and enhancing sustainability.
Accompanying Shaikh were Jesus Gutierrez, General Manager of X-NOOR, and the team from X-ELIO, X-NOOR’s shareholder company, who further highlighted their dedication to advancing solar solutions in the Kingdom.
In addition to his presentation, Shaikh took part in an engaging panel discussion on the topic of ‘Leading the Charge and Breaking Boundaries: The Intersection of Solar and Battery Technology in Driving Change’, alongside four prominent industry leaders.
Gutierrez said: "It was an honor to be part of The Solar Show KSA 2024 and to share the stage with some of the industry’s leading figures. X-NOOR’s vision of creating a greener and more efficient future aligns perfectly with the goals of this event and Saudi Arabia’s Vision 2030."
"We were delighted to have the opportunity to contribute to the conversation, lend our expertise, and are excited for the future as we continue advancing sustainable solutions in the Kingdom," he added.
As part of its future plans, X-Noor also engaged in numerous stakeholder meetings and discussions with potential clients at The Solar Show KSA 2024 to explore upcoming projects that will further solidify its role as a leader in the kingdom’s renewable energy landscape.
Building on over X-Elio’s 18 years of expertise in sustainable energy solutions, X-Noor said it remains steadfast in its mission to expand its presence in the Saudi market.
Committed to fostering a greener tomorrow, the company continues to implement large-scale zero-carbon initiatives, leveraging Saudi Arabia’s abundant solar resources while adhering to the highest international and regional standards, it added.
31/10/2024
Kuwait Reopens Work Visas for Foreign Nationals under Temporary Contracts

Kuwait’s Public Authority for Manpower (PAM) has reopened work visas for government contracts that last less than a year. The decision was announced last week and is intended to reduce Kuwait’s labour needs.
The reactivation of these work visas comes after directives from Sheikh Fahad Yousef Saud Al Sabah, the First Deputy Prime Minister, Minister of Defence, and Minister of Interior. PAM, through its official X (formerly Twitter) account, said that these visas will be available for temporary government projects.
The initiative is designed to offer greater flexibility in Kuwait’s workforce, particularly for short-term public sector projects, PAM said in the post.
31/10/2024
Oil Majors Return to Libya After Decade

BP and Eni have returned to Libya after ten years of avoiding the country amid its civil war.
Per a statement by the National Oil Corporation of Libya, Italy’s Eni resumed exploratory drilling in the Ghadames Basin last weekend. The company operates the exploration block where it is drilling in partnership with BP and the Libyan Investment Authority—the country’s sovereign wealth fund.
The Italian major acquired half of BP’s 85% stake in the Ghadames Basin block back in 2018. At the time, the company planned to start drilling at the site soon after the acquisition but the unstable political situation in the country changed those plans, as blockades of the oil fields and the oil export terminals became standard practice among various political and paramilitary factions.
Earlier this year, Libya’s oil production was decimated after the country's two governments locked horns over the appointment of a new central bank governor. Since the central bank handles Libya’s oil revenues, both governments wanted their own man at the top position. The eastern government, which controls most of Libya’s oil fields through affiliated armed groups, said production would be suspended until a compromise is found and promptly proceeded to carry out its threat.
As a result, Libya’s oil production dropped from over 1 million barrels daily to about 100,000 bpd for a short while, until the two governments shook hands on a new central bank governor. The events highlighted the fact Libya is still not the safest of locations for oil operators, yet this appears to no longer be the deterrent it used to be.
Two other Western energy majors are also returning to Libya, according to the NOC. Repsol, the Spanish operator, was preparing to start drilling in the Murzuq Basin in the coming weeks, and Austria’s OMV was also preparing for drilling in the Sirte Basin, the Libyan state energy company reported.
31/10/2024
General Atlantic Announces Riyadh Office Opening

General Atlantic, a leading global growth investor, announced the opening of its new office in Riyadh, Kingdom of Saudi Arabia.
This strategic expansion will deepen General Atlantic’s commitment to investing in the Kingdom’s dynamic and growing economy and partnering with entrepreneurs scaling within the region’s vibrant innovation ecosystem.
The new office aims to accelerate General Atlantic’s growth strategy in the Middle East and North Africa (MENAT), building on a successful decade of investing in the region. It will allow key executives to be in closer proximity to local entrepreneurs and growth companies, furthering the firm’s core investment strategies across Technology, Healthcare, Financial Services, Consumer, and Climate sectors.
General Atlantic has been actively investing in the MENAT region since 2012, deploying nearly US$1 billion to date across its investments. Key portfolio companies include eyewa, a regional direct-to-consumer eyewear retailer; Property Finder, an online real estate platform headquartered in Dubai; Network International, a payments solutions provider; and Trendyol, a regional marketplace and e-commerce platform. Previously, the firm invested in Yemeksepeti, an online food ordering marketplace later acquired by Delivery Hero, and Network International, a payments solutions provider headquartered in the UAE.
Strategic rationale for General Atlantic’s expansion
- Rapid growth in MENAT: The MENAT region is among the fastest-growing globally. The Middle East is expected to grow around 4% in 2025 and 2026 and could unlock an additional US$1 trillion in GDP through economic diversification.
- Emerging entrepreneurial ecosystem: Government transformation programs play a key role in nurturing a new generation of entrepreneurs, emphasizing skills like data analytics and AI as Saudi Arabia works to train 40% of its workforce in these areas. A young, tech-savvy population and high internet and mobile penetration rates drive digital transformation.
- Growing venture capital and capital markets: The region is experiencing an acceleration of venture capital investment and strengthened capital markets. Since 2020, venture capital funding in Saudi Arabia has surged nearly tenfold. Capital market reforms have led to more than 75 IPOs of US$100 million or more in MENAT since 2021, meeting investor demand and supporting economic diversification.
31/10/2024
Al-Falih: KSA Exceeds HQ Target

Saudi Arabia attracted 540 international companies to establish their regional headquarters in Riyadh, ahead of a 2030 target of 500, according to Khalid Al-Falih, the Kingdom’s minister of investment.
Speaking at the eighth Future Investment Initiative summit in Riyadh on Oct. 29, Al-Falih said that Saudi Arabia’s economic growth and investment landscape continues to remain resilient amid geopolitical tensions in the region.
“Investors are not only coming to Saudi Arabia for our vibrant market. They are coming to the Kingdom to explore the broader region. We have initiated a program aimed at targeting 500 regional headquarters by 2030. And I am glad to announce that we have reached 540 companies,” said Al-Falih.
Through the regional HQ program, Saudi Arabia introduced new tax incentives for multinational companies moving their regional headquarters to the Kingdom. These incentives include a 30-year exemption on corporate income tax and withholding tax related to headquarters activities, alongside discounts and support services.
Al-Falih added: “Our economy is in the middle of the Middle East. We are the center of the Middle East and we feel the pain that is happening at the human level. The economy of Saudi Arabia under Vision 2030 is navigating these geopolitical tensions, macroeconomic and global challenges including trade tensions and political conflicts extremely well.”
According to the minister, Saudi Arabia’s gross domestic product has grown by 70 percent since the launch of Vision 2030, a program aimed at diversifying the Kingdom’s economy by reducing its dependence on oil.
Affirming the progress of economic diversification, the investment minister said that Saudi Arabia’s non-oil economy has been growing at 4 percent to 5 percent consistently since 2016, when Vision 2030 was launched.
The comments by Al-Falih come just a few days after the International Monetary Fund projected the Kingdom’s economy to grow by 1.5 percent in 2024 and 4.6 percent next year. According to IMF, the Kingdom’s projected growth for 2025 is the second highest among countries in the GCC.
Earlier this month, the World Bank also projected the Saudi gross domestic product to grow by 1.6 percent this year and later accelerating to 4.9 percent in 2025.
In September, another report by credit rating agency S&P Global said that Saudi Arabia’s economic growth will be driven by its diversification strategy aimed at strengthening the non-oil private sector and reducing dependence on crude revenues.
The investment minister also added that Saudi Arabia is targeting US$3.3 trillion of gross capital formation by 2030, and it is currently growing at a pace of 10 percent year on year.
He added that the Saudi Arabia progressing in every sectors including tourism, with the Kingdom attracting more than 100 million tourists last year.
Al-Falih said that economic conditions are getting stabilized globally, with inflation moderating and interest rates declining.
“Inflation has now been crushed, and it is now back to target levels; 2.6 percent in developed countries. Interest rates have declined, and in many countries have started reducing interest rates and quantitative easing. There has been no massive recession in most G20 economies,” said Al-Falih.
He added: “Investor confidence is 15 percent high compared to three years ago, as measured by IPSOS. Tourism is back to where it was before the pandemic.”
Geopolitical tensions
Al-Falih expressed his concerns about the growing geopolitical tensions in the Middle East, and said that Saudi Arabia is committed to bring peace and stability in the region.
“Geopolitical situation is concerning. The human aspect of it is truly tragic, look at the region, look at Europe. What is happening should be not underestimated, and the Kingdom is doing all it can to bring peace and prosperity,” said the investment minister.
Turkish Finance Minister Mehmet Şimşek said his country’s economy, with its diversified nature, is well equipped to combat the effects of tensions in the region.
“We are concerned about the risk of escalation of the ongoing conflicts, even though I think the risk is small, but it is not completely ignorable. Typically that would be the worst case scenario because Turkiye is a highly diversified economy. We are more resilient,” said Şimşek.
He added: “The good news is that we have free trade countries with 54 countries around the world, and that covers about 60 percent of our trade.”
During the same panel discussion, UK’s Minister of State for Trade Douglas Alexander said that politics is making a come back to the business sector, which is creating challenges to the future of economy.
“In the first 40 years of globalization, CEOs and capital allocators did not have to give much consideration to geopolitics, and they instead focusing on ensuring flows of capital, services and goods. However, in recent years, we are seeing politics making a comeback, politics domestically, and geopolitics internationally,” said Alexander.
Technological shift
During the discussion, Al-Falih said that advanced technologies like artificial intelligence are expected to fuel optimism in the minds of investors, thus strengthening market conditions.
“AI, by itself, is fueling not only capital markets, but it is fueling optimism. It is creating an opportunity for rebalancing global competitiveness, among companies, among countries, and even among families and people, who think technological infrastructure will create a greater future,” said the Saudi minister.
Echoing similar view, Şimşek said that prolonged economic growth demands green transition and digital transformation.
Al-Falih further added that Saudi Arabia is doing everything to ensure security and safety of data as AI takes the center stage.
“What we are doing in Saudi Arabia is having a balanced framework on data privacy, data sovereignty and data security when it comes to AI,” said Al-Falih.
He added: “AI has a huge demand here. Saudi Arabia is going to be the disruptor, it is going to be the maker of a different ecosystem for actually incubating AI, algorithms and data centers that will have everything.”
31/10/2024
Saudi Arabia Nets in Private Funds for Sustainable Agriculture

Saudi Arabia's Ministry of Environment, Water, and Agriculture has announced a significant surge in private sector investments in the kingdom's agriculture and food sector, with total investments surpassing SAR37 billion (US$9.8 billion).
These investments cover a broad range of projects, including crop production, livestock and fisheries, as well as agricultural processing, manufacturing, and infrastructure development. All projects align with Saudi Vision 2030, said the ministry in a statement.
The ministry is also encouraging investments in cold chain infrastructure to improve the transportation of agricultural products and the establishment of marketing centers throughout the kingdom, it stated.
The announcement was made during a panel discussion at the 41st Saudi Agricultural Exhibition in Riyadh. The discussion titled "Vision 2030 and the National Food Strategy: Future Challenges," was led by Assistant Deputy Minister for Agriculture Dr. Sulaiman Al Khateeb.
He emphasized the crucial role of the private sector in advancing the agricultural sector and supporting the ministry's efforts to achieve food security, economic growth, social development, and environmental sustainability.
These objectives are consistent with the National Agriculture Strategy 2034, which focuses on natural resource sustainability, innovation, pest prevention, increased economic contribution, and fostering a thriving agricultural community.
Al Khateeb said to facilitate these investments and enhance sector efficiency, the ministry has introduced various incentives and enablers.
These include supporting investment opportunities, promoting the adoption of modern agricultural technologies, providing agricultural loans through the Agricultural Development Fund, encouraging affordable land leases, streamlining licensing procedures for agricultural projects, and offering technical and advisory support to farmers, he added.
31/10/2024
OPEC Fund Announces Substantial Financing Commitments at 2024 WB Meetings

The OPEC Fund for International Development (the OPEC Fund) concluded its participation in the 2024 World Bank-IMF Annual Meetings with robust new financing commitments, signing loan agreements totaling nearly half a billion dollars with partner countries. These agreements underscore the OPEC Fund’s commitment to advancing global development goals, including climate resilience, energy transition, sustainable agriculture and socio-economic empowerment.
OPEC Fund President Dr. Abdulhamid Alkhalifa said: “The Annual Meetings provided a vital opportunity for the OPEC Fund to connect with key stakeholders and align our efforts to meet the development needs of our partner countries. This year’s meetings have proven to be an excellent platform for fostering partnerships and strengthening collaboration. Through new financing agreements, we are taking decisive steps to enhance connectivity, foster economic resilience and empower communities across our partner countries.”
In a significant move to strengthen collaboration, the OPEC Fund and the World Bank Group signed a Co-Financing Framework Agreement (CFA) and a Memorandum of Understanding (MoU) during the meetings. These agreements, signed by OPEC Fund President Dr. Abdulhamid Alkhalifa and World Bank Group President Ajay Banga, are expected to boost co-financing opportunities. OPEC Fund President Alkhalifa and members of the delegation met with each regional Vice President of the World Bank for a deep-dive into countries and operational priorities.
The OPEC Fund’s new loans in partner countries include:
Benin: US$26 million loan to support the Horticulture Development Support Project (PADMAR-E) aimed at enhancing food security and increasing the income of small-scale horticulture farmers
Bhutan: US$50 million loan to help develop two hydropower plants, aimed at strengthening Bhutan’s energy security and renewable energy generation
Côte d’Ivoire: €60 million Program-Based Loan (PBL) to upgrade infrastructure and boost economic competitiveness in the country’s transport and energy sectors.
Jordan: US$100 million PBL to support the Jordan Human Capital Program, which aims to enhance and preserve human capital.
Oman: US$180 million loan, as the first tranche of a US$392 million financing facility, for the Khasab-Daba-Lima Road Project, to enhance regional connectivity
SQB Bank of Uzbekistan: US$40 million loan to Sanoat Qurilish Bank (SQB), to support small and medium-sized enterprises as well as the agriculture sector in Uzbekistan.
The OPEC Fund also signed partnership agreements to expand cooperation with partner institutions, such as Fonplata and CAF, and enhance development efforts in the LAC region.
31/10/2024