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Children show painted eggs to celebrate Sham el-Nessim at


home amid the COVID-19 pandemic in Cairo, Egypt, on April 20, 2020. Sham el-Nessim is a traditional Egyptian festival marking the beginning of spring.


PHOTO: Xinhua News Agency/ Shutterstock.com


IN UNCERTAIN TIMES What is certain, however, is that as


the COVID-19 pandemic unfolds, many of the OPEC Fund’s developing country partners will refocus resources to contain and mitigate its impact. We are committed to supporting them to do precisely this. In April, we announced that we are dedicating US$1 billion to fund COVID-19 impact and recovery efforts in developing countries. The allocation will be deployed in the form of OPEC Fund public, private and trade


finance loans and a robust fast-track approval process will form part of our emergency response initiative. The OPEC Fund is also joining global


efforts to address the socioeconomic challenges the world is now facing. The organization will work closely with the financial institutions of the Arab Coordination Group, with multilateral development banks, as well as with specialized agencies of the United Nations,


to provide collective, well-coordinated and impactful development financing where it is needed most.


Over the past four decades, the


OPEC Fund has faced and overcome many challenges. We will continue to extend unwavering support to our partners, and spare no effort to assist them to the best of our ability. Together, we will overcome this most recent challenge and navigate the new world that emerges on the other side.


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