The East African Development Bank (EADB) has signed its largest financing agreement yet with the OPEC Fund for International Development, securing a US$40 million loan to accelerate private sector development and infrastructure investment across East Africa.
The agreement, formalized on Wednesday at the OPEC Fund’s headquarters in Vienna, is the fourth collaboration between the two institutions and brings their total financing partnership to US$85 million since 2002.In addition to the direct loan, the OPEC Fund has committed to arranging an additional US$25 million through syndicated resources, positioning the development bank to mobilize deeper capital pools for strategic projects across its member states.EADB’s Acting Director General Bernard Mono described the agreement as a milestone in the bank’s mission to deliver broad-based economic development.
“Our partnership with EADB exemplifies our commitment to working with regional financial institutions to achieve sustainable development outcomes. By supporting SMEs and infrastructure in East Africa, we are directly investing in the region’s economic resilience and long-term prosperity,” OPEC Fund President Dr. Abdulhamid Alkhalifa said.
The EADB was established in 1967 and has positioned itself as a key financier of long-term regional development. The institution’s track record includes investments in housing, transportation corridors, and agribusiness.
OPEC Fund President Abdulhamid Alkhalifa emphasized the importance of regional partnerships in delivering sustainable outcomes. The partnership reflects a broader shift in multilateral financing toward blended capital models, combining traditional development finance with private sector leverage.