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OPEC Fund Supports Post-COVID-19 African Infrastructure With $50m Loan to Africa Finance Corporation

first_img Twitter Previous articleTEXAS VIEW: Failure to fix vaccine registry haunts TexasTHE POINT: The pandemic has cast a spotlight on the lack of support for our health care system.Next articleVelodyne Lidar signe un accord de vente pluriannuel avec Emesent Digital AIM Web Support By Digital AIM Web Support – January 27, 2021 OPEC Fund Supports Post-COVID-19 African Infrastructure With $50m Loan to Africa Finance Corporation Facebook Facebook Pinterest TAGS  center_img Local NewsBusiness WhatsApp Pinterest Twitter WhatsApp VIENNA–(BUSINESS WIRE)–Jan 27, 2021– The OPEC Fund for International Development (the OPEC Fund) and Africa Finance Corporation (AFC) have signed a $50 million loan agreement to help finance and build infrastructure needed for Africa’s post-COVID recovery. This represents the first direct financing co-operation between the two institutions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210127005070/en/ The proceeds of the 10-year loan to AFC will help address the continent’s well-known infrastructure financing gap. The loan will also support increased financial flows to Africa and contribute to COVID-19 recovery efforts in African economies by freeing up government funds to meet urgent financing needs related to the pandemic. AFC President and CEO, Samaila Zubairu said: “AFC has been engaging development partners worldwide to find ways that we can act in concert to mobilize the funds necessary for Africa’s post-pandemic recovery and optimize efficient deployment. This loan is in line with AFC’s effort to support the development-vital infrastructure, from energy to transport and commerce, and to return Africa back to the path of sustainable growth and development. We are committed to working with the OPEC Fund and other partners as critical enablers of essential infrastructure development.” OPEC Fund Director-General Dr. Abdulhamid Alkhalifa said: “Africa’s urgent infrastructure financing needs have become even more pronounced since the onset of COVID-19. The pandemic has hampered economic growth and investment across the continent. Our support to AFC will help provide sustainable financing for infrastructure development to improve connectivity, transport, logistics, trade and the creation of jobs. We look forward to a long and productive partnership with AFC. By working with experienced regional partners, our development impact is amplified.” AFC is a financial institution with 28 member countries, established to provide financing and private sector-driven solutions for infrastructure, natural resources and industrial projects across Africa. To date, AFC has invested over US$8.4 billion in projects within 35 African countries. The OPEC Fund signed a cooperation agreement with AFC in 2017 and this loan marks the beginning of collaboration on the ground. About the OPEC Fund The OPEC Fund for International Development (the OPEC Fund) is the only globally mandated development institution that provides financing from member countries to non-member countries. The organization works in cooperation with developing country partners and the international development community to stimulate economic growth and social progress in low- and middle-income countries around the world. The OPEC Fund was established by the member countries of OPEC in 1976 with a distinct mandate: to drive development, strengthen communities and empower people. Our work is people-centered, focusing on financing projects that meet essential needs, such as food, energy, infrastructure, employment (particularly relating to MSMEs), clean water and sanitation, healthcare and education. To date, we have approved more than US$25 billion for operations in 135 partner countries. Our vision is a world where sustainable development is a reality for all. About Africa Finance Corporation AFC was established in 2007 to be the catalyst for private sector-led infrastructure investment across Africa. It is the second highest investment grade rated multilateral financial institution in Africa. AFC’s approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development and risk capital to address Africa’s infrastructure development needs and drive sustainable economic growth. AFC invests in high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. To date, the Corporation has invested over US$8.4 billion in projects in 35 countries across Africa. www.africafc.org View source version on businesswire.com:https://www.businesswire.com/news/home/20210127005070/en/ CONTACT: For more information, please contact: OPEC FUND: [email protected] Benamara OPEC Fund for International Development [email protected] +43 151 564138AFC/ NEW MARKETS CONTACT: Gavin Serkin New Markets Media & Intelligence [email protected] +44 20 3478 9710Olisa Nwokedi Africa Finance Corporation [email protected] +234 9062834707Rita Babihuga-Nsanze Africa Finance Corporation [email protected] +234 906 298 1490 KEYWORD: AFRICA EUROPE AUSTRIA INDUSTRY KEYWORD: BANKING PROFESSIONAL SERVICES FINANCE SOURCE: Africa Finance Corporation Copyright Business Wire 2021. PUB: 01/27/2021 04:00 AM/DISC: 01/27/2021 04:01 AM http://www.businesswire.com/news/home/20210127005070/enlast_img read more

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‘ALL ABOUT THE CHILDREN’: Glenda Gunter retires after 48 years of teaching

first_imgSkip ‘ALL ABOUT THE CHILDREN’: Glenda Gunter retires after 48 years of teaching Gunter brought a wealth of teaching experience to Covenant Christian, and she found a second home there.“Covenant Christian is a small school, and we are like family- the children, the parents, the staff,” she said. “There is more time for one-on-one teaching, and the children are like your children – or for me, now – like grandchildren. I love them all.”Over the 28 years she has been at Covenant Christian, Gunter said there have been many more happy times than sad times.“We have been on our knees when there was sickness in one of our families and when a loved one was lost,” she said. “We’ve had to deal with a child’s loss of a parent, and that was especially difficult. But, we have always come through because of the love and caring we have for each other. Troy falls to No. 13 Clemson “But, it’s time,” Gunter said. “It’s time for me to retire and let a younger teacher take over. I’m from the old school, and these young teachers know more about the technology of the profession than I’ll ever know. It’s just time.”Gunter has 48 years of teaching experience including “Miss Egan’s Kindergarten,” which was the early model for excellence in teaching young children.“I learned at lot about teaching young children at Miss Egan’s and much of what I learned I still use today,” she said. “Children still respond in a positive way to her ways of teaching. I love children. I love teaching. You have to love it to stay in it 48 years.”Glenda Gunter, first-grade teacher at Covenant Christian School, is retiring after 28 years at the school. She will take with her many wonderful memories and, as backups, she will take stacks of scrapbooks filled with photos and boxes of cards and letters from the parents of the children she has taught. There will be a reception for Gunter from 3 until 4 p.m. Sunday in the Fellowship Hall of First Presbyterian Church in Troy. All former students, their families and friends are invited. Glenda Gunter, first-grade teacher at Covenant Christian School, is retiring after 28 years at the school. She will take with her many wonderful memories and, as backups, she will take stacks of scrapbooks filled with photos and boxes of cards and letters from the parents of the children she has taught. There will be a reception for Gunter from 3 until 4 p.m. Sunday in the Fellowship Hall of First Presbyterian Church in Troy. All former students, their families and friends are invited.God led Glenda Gunter “to this place,” and for 28 years she has been happy.That is how Gunter summed up her 28 years teaching children at Covenant Christian School in Troy.And, there is no doubt that tears will be shed when she walks out the schoolhouse door for the final time as a teacher on May 21. By Secrets Revealed By Jaine Treadwell Remember America’s heroes on Memorial Day Book Nook to reopen Published 2:00 am Saturday, May 2, 2015 Plans underway for historic Pike County celebration Print Article Pike County Sheriff’s Office offering community child ID kits “I have so many wonderful memories of the children. I call them my ‘Velcro kids’ because they stick to me, to my heart. God has richly blessed me in bringing me to Covenant Christian and keeping me here. I’ve tried to retire before but just couldn’t walk away. And, it will be hard this time, but it is time now.”Gunter said she will leave Covenant Christian School with a storehouse of memories and stacks of scrapbooks.“I’ve kept scrapbooks of the years that I’ve taught,” she said. “I have pictures of my classes and the fun things that we have done. I have boxes of notes and cards from parents thanking more for the influence I’ve had on their children’s lives, and those are so very special to me.“Teaching is not about money, not to me. It’s all about the children and the opportunities you have to mold and shape their young lives. I’ve taken that very seriously, and I hope that what I have said and done has helped my ‘Velcro children’ learn and feel good and positive about who they are and confident in moving ahead in their young lives.”Gunter said she has always put her trust in God and things have worked out in her life.“God could not have put me in a better place at a better time in my life than at Covenant Christian School. I have been richly blessed. Latest Stories This Video Will Soon Be Banned. Watch Before It’s… Sponsored Content You Might Like HEALTHY AND ACTING: “To Kill a Mockingbird” teenage actor who played Jem cancer free since 2006 Dalton Causey, the cute kid who did an incredible job playing, Jem, in the Troy University production of “To Kill… read more Email the author Around the WebMd: Do This Immediately if You Have Diabetes (Watch)Blood Sugar BlasterIf You Have Ringing Ears Do This Immediately (Ends Tinnitus)Healthier LivingHave an Enlarged Prostate? Urologist Reveals: Do This Immediately (Watch)Healthier LivingWomen Only: Stretch This Muscle to Stop Bladder Leakage (Watch)Healthier LivingRemoving Moles & Skin Tags Has Never Been This EasyEssential HealthRemember Them? I’m Sure Their New Net Worth Will Leave You SpeechlessbradofoThe content you see here is paid for by the advertiser or content provider whose link you click on, and is recommended to you by Revcontent. 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