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More impact


New Annual Report shows how a focus on partnerships and people is paying off for the OPEC Fund


US$550 million


ed for public sector ations co-financed with others in 2019


2019 44 HIGHLIGHTS


The OPEC Fund launches new strategy to maximize its development impact in all


developing countries other than its own members.


New finance approved for development operations in Africa:


US$944.6m .


Arab Development Portal: The OPEC Fund and United Nations Development Programme (UNDP) strengthen partnership to improve the use of data for development in the Arab region.


New finance approved for development operation in Asia:


US$771.7m .


US$550 million


approved for public sector operations co-financed


where it matters


most T


he OPEC Fund for International Development’s newly published Annual Report highlights how the organization continues to provide smart solutions to


complex development challenges and ensures that funding to support the Sustainable Development Goals reaches those who need it most. Introducing the report, OPEC Fund Director-


General Dr Abdulhamid Alkhalifa writes that the story for 2019 is “overwhelmingly positive” in terms of the organization’s outward-facing development operations and the implementation of a new strategy. While the OPEC Fund has now approved more than US$25 billion in support of development operations across the globe, the new strategy focuses firmly on the partnerships that


make its work possible and the people it aims to empower. During 2019 alone, for example, the OPEC


Fund approved US$550 million for public sector operations co-financed with other development actors. The total cost of these operations was US$3.7 billion. Separately, the organization’s Private Sector and Trade Finance department worked with 16 partners during 2019, including the African Development Bank, the Asian Development Bank, the European Bank for Reconstruction and Development and the World Bank Group’s International Finance Corporation (IFC). Dr Alkhalifa highlights the far-reaching development impact of the OPEC Fund’s work. In Nepal, he writes, the OPEC Fund is supporting a landmark hydroelectric plant through its private


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