01 | THE HIGHLIGHTS – STRATEGY UPDATE
STRATEGY UPDATE
Expanding ambitions: The OPEC Fund sharpens its strategic vision Scaling up for greater impact
Scaling up for greater impact
In 2024, the OPEC Fund reviewed and refined its strategic direction to better align with evolving global challenges and the needs of its partners. This update builds on the institution’s commitment to supporting sustainable devel- opment and maximizing impact to help countries achieve the Sustainable Development Goals (SDGs).
With a strong foundation in place, the OPEC Fund is now scaling up further to maximize its impact. Between 2025 and 2030, the OPEC Fund aims to:
• provide US$20 billion in total financing commitments to partner countries,
Strengthening our foundations and expanding our reach
• approve at least US$5 billion in climate finance,
The OPEC Fund launched its Strategic Framework 2030 (SF2030) in 2019. Designed to enhance its development impact worldwide, SF2030 has guided the OPEC Fund in strengthening its institutional capacity, enhancing internal systems and diversifying funding sources. Securing access to capital markets proved a key milestone, which has ensured the OPEC Fund’s financial flexibility and its ability to scale up investments. Building on this foundation, the OPEC Fund significantly expanded its offering to partner countries. The institution increased its product offering, stepped up its engagement and launched dedicated thematic initiatives such as the Climate Action Plan and Food Security Action Plan to address urgent global challenges.
• invest US$2 billion in food security initiatives and
• allocate at least US$4 billion in financing to Africa to address the continent’s critical development challenges.
This expansion translated into tangible results: annual commitments grew from US$1.1 billion in 2019 to US$2.3 billion in 2024.
Between 2025 and 2030, the OPEC Fund aims to approve at least
US$ 5 billion
in climate finance
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