Development Effectiveness Report 2024

CHAPTER 2

Two OPEC Fund projects contribute to SDG target 16.6 (Table 16) under SDG 16 (Peace, Justice and Strong Institu- tions), which aims to ensure effective and transparent insti- tutions. One is the aforementioned policy based-loan for North Macedonia that aims, among others, to strengthen the sustainability of public finances by establishing an inde-

pendent fiscal council. The second project is the debt relief initiative project for Somalia which is part of a package including key structural reforms to improve public financial and expenditure management, domestic revenue mobiliza- tion, governance and statistics.

Table 16: Project contributions to SDG 16 targets

No. of contributing projects

% of contributing projects

SDG target

16.6 Develop effective, accountable and transparent institutions at all levels 2

4

Fifteen OPEC Fund projects approved in the review period support the very broad SDG 17 (Partnerships for the Goals) which aims to foster collaboration for sustainable devel- opment (Table 17) . One-third of these projects contribute to target 17.3 on resource mobilization. Projects contrib- uting to this target include a US$10 million loan for a food

commodities import financing facility for the government of Egypt, as well as a US$40 million loan for a commodity and medical supplies import facility to the government of Maldives, both of which were co-financed by the IsDB Group and form part of larger syndicated facilities that have mobilized resources for developing countries.

Table 17: Project contributions to SDG 17 targets

No. of contributing projects

% of contributing projects

SDG target

17.3 Mobilize additional financial resources for developing countries from multiple sources

10

22

17.4 Assist developing countries in attaining long-term debt sustainability through coordinated policies aimed at fostering debt financing, debt re- lief and debt restructuring, as appropriate and address the external debt of highly indebted poor countries to reduce debt distress 1 17.9 Enhance international support for implementing effective and targeted capacity-building in developing countries to support national plans to implement all the Sustainable Development Goals, including through North-South, South-South and triangular cooperation 1

2

2

17.11 Significantly increase the exports of developing countries, in particular with a view to doubling the least developed countries’ share of global exports by 2020 3

7

17.14 Enhance policy coherence for sustainable development

1

2

17.17 Encourage and promote effective public, public-private and civil society partnerships, building on the experience and resourcing strategies of partnerships 1

2

28

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