Morocco’s water security and Oman’s Yiti sustainable city pick up USD 190 mn from OPEC Fund

Morocco and Oman are in line for a combined USD 190 mn in financing from the OPEC Fund for International Development as part of a USD 645 mn package the fund is disbursing for public and private sector projects, according to a statement. The fund earmarked USD 150 mn for Morocco to “help finance a major new dam designed to improve water security and climate resilience,” while Oman is set to receive up to USD 40 mn for the construction of the Plaza District within its Yiti Sustainable City.

ALSO- The European Bank for Reconstruction and Development (EBRD) has just approved two EUR 25 mn financing facilities in our region this week. The first is for Iraq’s Bank of Baghdad as a trade-finance facility under the EBRD’s Trade Facilitation Program, paired with EU-funded technical assistance covering bank employees’ competence and training to improve the financial inclusion of underserved groups. The other is a EUR 25 mn line to Morocco’s Banque Centrale Populaire, dedicated to on-lending focused on energy-efficiency projects and small-scale renewables.

Back in action?

Cosco made its first transit through the Suez Canal since the Red Sea crisis began, Suez Canal Authority Chairman Osama Rabie said in a statement on Wednesday. The OOCL Portugal, a Cosco-group vessel with a 24k TEU capacity, crossed from Belgium toward China on an Ocean Alliance service, carrying 247k tons of cargo.

There’s been a broader return to Suez recently, but it’s still selective. CMA CGM sent its Vendome through the canal in June, marking the first southbound transit of its FAL3 service since January. MSC said it would partially restore Suez transits for its Indusa service, westbound only, while Maersk and Hapag-Lloyd announced that four more Gemini services would switch from the Cape of Good Hope to Suez.

Dammam gets new wings

Saudi Arabia is giving Dammam both a new airline and a bigger airport plan. The General Authority of Civil Aviation (GACA) awarded an air operator certificate to an Air Arabia-led consortium — including Nesma Group and KUN Holding — to launch a new national low-cost carrier based at Dammam’s King Fahd International Airport (DMM), according to a press release. Dammam Airports also signed a design contract with WSP to develop King Fahd International Airport under its approved master plan, SPA reports.

Snowbirds, Doha edition

Qatar wants a bigger share of Russia’s winter-sun travelers: Visit Qatar has signed an MoU with Russian tour operator Fun & Sun to fly charter flights from Moscow and Yekaterinburg to Hamad International Airport from October, Qatar News Agency reports. The two expect the flights to bring more than 22k Russian tourists to Qatar over the 2026-2027 winter season.