NAIROBI, Kenya—The East African Development Bank (EADB) has clinched a Sh5.1 billion (US$40 million) loan agreement with the OPEC Fund for International Development in a step toward empowering micro, small, and medium enterprises (MSMEs) and strengthening infrastructure in East Africa.
The deal, finalized in Vienna, is the largest yet between the two institutions and is set to unlock fresh opportunities for inclusive and sustainable regional growth.
The funding will target high-impact sectors such as transport, tourism, education, and agro-processing, while placing a strong emphasis on expanding access to finance for MSMEs the backbone of the region’s economy.
“This fourth agreement with the OPEC Fund is not only a financial milestone but also a testament to our trust and shared vision for East Africa,” said Benard Mono, Acting Director General of EADB.
The EADB and OPEC Fund have enjoyed a long-standing partnership since 2002, beginning with a US$10 million investment.
Subsequent collaborations in 2014 and 2020 expanded their support to agro-industrial and SME development projects, reflecting a growing commitment to economic empowerment and job creation.
“Our partnership with EADB exemplifies our commitment to working with regional financial institutions to achieve sustainable development outcomes,” said OPEC Fund President Abdulhamid Alkhalifa.
With this latest injection of financing and an expanded syndication mandate, EADB says it is set to broaden its impact across its member states, reinforcing its position as a catalyst for regional transformation.
