CHAPTER 2
Each SDG is further specified by one or more concrete SDG targets which constitute each goal. To offer a clearer picture of the development aspects supported by OPEC Fund-financed projects, the following sections detail the expected contributions of newly approved OPEC Fund projects to specific SDG targets. Note that the total number of projects contributing to the SDG targets within each SDG may exceed the overall number of projects for each goal, as many projects contribute to multiple SDG targets. Under SDG 1 (No Poverty), OPEC Fund operations approved between July 2023 and June 2024 will primarily focus on fighting poverty, raising smallholder farmers’ incomes through efficient irrigation systems in low-income commu- nities, improving household access to basic services, implementing social protection programs and introducing
climate-resilient strategies that directly benefit vulnerable families. Additionally, operations will work to expand access to essential services, improving overall well-being and resil- ience (Table 1) . One example approved between mid-2023 and mid-2024 is a US$31.6 million loan to Guinea-Bissau, co-financed by the International Fund for Agricultural Development (IFAD), which aims to increase rice produc- tion and productivity to improve producers’ income and therefore reduce poverty (target 1.2). Another contribution to SDG 1 is a US$21 million loan for a project in Rwanda co-financed by the Arab Bank for Economic Development in Africa (BADEA), the Abu Dhabi Fund for Development (ADFD), the Saudi Fund for Development (SFD) and EXIM Hungary to improve household access to drinking water. The project aims to improve access to the basic service of drinking water provision (target 1.4) for about 500,000 people by project completion.
Table 1: Project contributions to SDG 1 targets
No. of contributing projects
% of contributing projects
SDG target
1.1 By 2030, eradicate extreme poverty for all people everywhere, currently measured as people living on less than $1.25 a day 2
4
1.2 By 2030, reduce at least by half the proportion of men, women and children of all ages living in poverty in all its dimensions according to national definitions
6
13
1.4 By 2030, ensure that all men and women, in particular the poor and the vulnerable, have equal rights to economic resources, as well as access to basic services, ownership and control over land and other forms of property, inheritance, natural resources, appropriate new technology and financial services, including microfinance 3 1.5 By 2030, build the resilience of the poor and those in vulnerable situ- ations and reduce their exposure and vulnerability to climate-related extreme events and other economic, social and environmental shocks and disasters 3
7
7
1.a Ensure significant mobilization of resources from a variety of sources, in- cluding through enhanced development cooperation, in order to provide adequate and predictable means for developing countries, in particular least developed countries, to implement programs and policies to end poverty in all its dimensions
6
13
16
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