01 | THE HIGHLIGHTS – AT A GLANCE
Climate Action
The OPEC Fund surpassed its Climate Action Plan target, which aimed to focus a quarter of all newly approved commitments on climate action by 2025, dedicating one-third of its financing to climate in 2022 and 34 percent in 2023. The OPEC Fund published its first annual Climate Finance Report in 2024.
Connectivity
Financial Innovation
Connecting people means supporting economies. With new commitments of US$370 million, transport infrastructure was the OPEC Fund’s largest sector in 2024. The six projects in Madagascar (US$30 million), Oman (US$180 million), Paraguay (US$50 million), Senegal (US$38 million), Tanzania (US$41 million) and Uganda (US$30 million) will deliver sustainable and climate resilient infrastructure to enhance connectivity.
The OPEC Fund and the Inter-American Development Bank (IDB) executed an
exposure exchange agreement, the first time this instrument was used beyond triple-A- rated multilateral development banks. The first sustainability-linked loans connected loan terms with the fulfilment of pre-agreed environmental, social and governance targets. The OPEC Fund also arranged the first loan syndication with a member country financial institution joining an A/B structure in support of small businesses in a partner country.
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