CHAPTER 2
Under SDG 10 (Reduced Inequalities), a key area of the OPEC Fund’s support is target 10.1, which focuses on helping increase and sustain income growth for lower-in- come segments (Table 10). In addition to several rural development projects which aim to increase the incomes of some of the poorest population segments (target 10.1)
in Malawi, Zimbabwe, Guinea-Bissau, Tanzania, Rwanda, Lesotho and Liberia, another example of support to SDG 10 is a policy-based loan of ¤50 million to North Macedonia co-financed by the World Bank. Among other reforms, the aim is to safeguard financial sector stability via improved regulation in the aftermath of several crises (target 10.5).
Table 10: Project contributions to SDG 10 targets
No. of contributing projects
% of contributing projects
SDG target
10.1 By 2030, progressively achieve and sustain income growth of the bottom 40 per cent of the population at a rate higher than the national average 7
16
10.2 By 2030, empower and promote the social, economic and political inclu- sion of all, irrespective of age, sex, disability, race, ethnicity, origin, religion or economic or other status 3
7
10.5 Improve the regulation and monitoring of global financial markets and institutions and strengthen the implementation of such regulations 1
2
10.b Encourage official development assistance and financial flows, includ- ing foreign direct investment, to States where the need is greatest, in particular least developed countries, African countries, small island developing States and landlocked developing countries, in accordance with their national plans and programs
3
7
Five OPEC Fund projects approved between mid-2023 and mid-2024 support SDG 11 (Sustainable Cities and Commu- nities) targets which focus on building and strengthening inclusive, safe, resilient and sustainable cities and commu- nities. (Table 11). One example is a US$100 million loan to India for a project co-financed with the Asian Infrastructure
Investment Bank (AIIB) for the construction and installation of a new metro line section in Mumbai which is set to cut travel times, provide a climate-friendly, fast and accessible metro system, while enhancing women’s safe mobility and meeting growing demand for urban transportation (targets 11.2 and 11.6).
Table 11: Project contributions to SDG 11 targets
No. of contributing projects
% of contributing projects
SDG target
11.1 By 2030, ensure access for all to adequate, safe and affordable housing and basic services and upgrade slums 1
2
11.2 By 2030, provide access to safe, affordable, accessible and sustainable transport systems for all, improving road safety, notably by expanding public transport, with special attention to the needs of those in vulnerable situations, women, children, persons with disabilities and older persons 2 11.5 By 2030, significantly reduce the number of deaths and the number of people affected and substantially decrease the direct economic losses relative to global gross domestic product caused by disasters, including water-related disasters, with a focus on protecting the poor and people in vulnerable situations 1
4
2
11.6 By 2030, reduce the adverse per capita environmental impact of cities, including by paying special attention to air quality and municipal and other waste management 2
4
24
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