The OPEC Fund for International Development

Our vision is a world where sustainable development is a reality for all. To date, we have committed more than US$24 billion in development financing and have supported over 4000 projects in 125 countries. Discover how we drive development, strengthen communities and empower people: opecfund.org

We signed a US$20 million loan agreement with #Malawi to finance Phase II of the Shire Valley Transformation Program (SVTP II). This initiative aims to boost #agricultural productivity and resilience through sustainable #irrigation and natural resource management. SVTP II is expected to enhance #foodsecurity, reduce #poverty and improve the livelihoods of approximately 130,000 people in the #ShireValley, a key agricultural region in southern Malawi. “This program demonstrates the #OPECFund’s commitment to fostering sustainable development in cooperation with our partner countries and international development partners. By investing in resilient #infrastructure and agricultural transformation, we are helping to secure #foodsupplies and empower communities in one of Malawi’s most vulnerable regions,” said our President, Dr. Abdulhamid Alkhalifa. For more information: bit.ly/3P3TEP7 #SDG2 #ZeroHunger

New partner country: the #OPECFund has signed its first-ever loan agreement with #Montenegro! We are providing a €50 million loan to boost #fiscalsustainability and advance the #greentransition in the South East European country. The Resilient Fiscal and Sustainable Development Program will help Montenegro improve its public financial management, support #climateaction and promote sustainable practices in #wastemanagement, #forestry and #renewableenergy. “We are proud to partner with Montenegro for the first time, supporting reforms that address fiscal challenges while enabling the transition to a greener and more sustainable economy. This milestone marks the beginning of a strong #partnership and we are committed to working closely with Montenegro to bolster its #development and the delivery of its #climate objectives,” said our President Dr. Abdulhamid Alkhalifa. HE Novica Vuković, Montenegro’s Minister of Finance, added: "The partnership with a respected partner such as the OPEC Fund represents a significant milestone in Montenegro’s development path. Our goal is a ’greener’ future, finding the right balance between a healthy #economy and a healthy #environment." For more information: bit.ly/4frvGYR

This week, we were delighted to host the first in-person Annual Meeting of Heads of Protocol from Multilateral Development Banks (#MDBs) at our HQ in #Vienna. Over two productive days, representatives from the Asian Development Bank (ADB), African Development Bank Group, Asian Infrastructure Investment Bank (AIIB), EBRD, European Investment Bank (EIB), Inter-American Development Bank, International Monetary Fund, Islamic Development Bank (IsDB), New Development Bank (NDB) and The World Bank engaged in discussions on benchmarking, standardizing #protocol activities and addressing shared challenges faced by MDBs. Thank you to all participants for the valuable insights and #collaboration!

How can clean cooking transform lives? Our newly launched Clean Cooking Report spotlights strategies, lessons and approaches to scale #cleancooking initiatives worldwide - highlighting the #OPECFund’s role in advancing sustainable energy access. “This report highlights the transformative potential of clean cooking solutions to improve #health, protect the #environment and empower communities, particularly #women and #children. By investing in scalable initiatives for sustainable #energyaccess, we can reduce #deforestation and enhance livelihoods,” said our President Dr. Abdulhamid Alkhalifa. Explore the full report here: bit.ly/OFCCR2024

At #COP16Riyadh, our President Dr. Abdulhamid Alkhalifa visited pavilions from member and partner countries, as well as the Saudi Green Initiative and the joint Arab Coordination Group (ACG) pavilion, to explore global efforts to restore degraded #land, combat #desertification and enhance #climateresilience. As Dr. Alkhalifa stated: “#COP16 represents a critical opportunity to strengthen global collaboration on land restoration and climate resilience. #SaudiArabia’s leadership in hosting this conference and advancing initiatives such as the Saudi and Middle East Green Initiatives highlights the importance of collective action. The #OPECFund is proud to align with these efforts, contributing innovative solutions to protect #ecosystems and improve livelihoods.” #OPECFundAtCOP16

Have you had a chance to read our Climate Finance Report? Discover our key achievements, strategies and insights that showcase our commitment to building #climateresilience and promoting sustainable #development globally: bit.ly/OFCFR24 #SDG13 #ClimateAction #ClimateFinance

Highlights from #OPECFundAtCOP16 At #COP16Riyadh, the #OPECFund advanced its commitment to global #climateaction and #landrestoration through key initiatives and partnerships: ▪️ Pledged US$1 billion to the Riyadh Drought Resilience Partnership, supporting land restoration, resilience building and improved livelihoods for vulnerable communities. ▪️ The Arab Coordination Group (ACG) announced a US$10 billion pledge by 2030 to combat #desertification and #landdegradation. ▪️ Launched our Clean Cooking Report, which highlights diverse strategies, shares the #OPECFund’s approach and provides valuable lessons learned to drive progress toward universal access to #cleancooking solutions. ▪️ President Dr. Abdulhamid Alkhalifa addressed the #COP16 Ministerial Dialogue on Finance titled “Unlocking Public and Private Finance for Land Restoration and Drought Resilience” and spoke at the Saudi Green Initiative event “Empowering Change: The Future of Clean Cooking.” ▪️ Co-led a series of events with UN agencies, international organizations and development finance institutions. ▪️ Held meetings with key players from the public- & #privatesector, to strengthen cooperation and set our ambitious plans on course and into action.

The #OPECFund approved close to US$1 billion in new development financing over the last quarter of 2024, including during its 190th Governing Board meeting in #Vienna today. These projects will benefit countries across the globe and aim to bolster #infrastructure, #foodsecurity, #renewableenergy, #economicresilience and governance in partner countries. “Our latest round of financing reflects the OPEC Fund’s ongoing dedication to delivering impactful solutions that drive meaningful change for millions of people. We remain focused on working with partners worldwide to tackle today’s challenges and build a better tomorrow,” said our President Dr. Abdulhamid Alkhalifa. For more information: bit.ly/3ZIYqYm #GlobalGoals #OPECFundGB

Soil health is crucial for land productivity. At our pavilion we hosted the #COP16Riyadh side event, “Advancing Soil Health for Sustainable Land Management: Innovations and Best Practices - #Philippines Experience.” The fireside chat featured Dr. Gina P. Nilo, Director of the Bureau of Soils and Water Management (BSWM), Philippines, and the #OPECFund’s Gerardo Parco, Senior Environmental Specialist. Together, they explored the pivotal role of #soilhealth in addressing #desertification, #landdegradation and #drought. Key topics included: ▪️ The critical connection between soil health and #landproductivity. ▪️ #Innovations and best practices in soil health management. Thank you to all who joined us in fostering collaboration for a resilient, sustainable future!