CHAPTER 6
LOOKING AHEAD
The OPEC Fund will continue to pursue its strategic objective of maximizing development impact and prior- itize maintaining and further developing the OFRF and its project-level toolkit as a central element of how the OPEC Fund identifies, designs and implements projects. As a result, the Development Effectiveness Unit will continue to strengthen and intensify the support and training it provides to operations teams, collaborating closely with all relevant stakeholders to further improve processes and standards for integrating development effectiveness into all OPEC Fund activities.
A major upcoming milestone for the OPEC Fund will be the launch of the key OFRF indicators. In addition to updating the OFRF indicators, the OPEC Fund’s Development Effectiveness Unit will continue to support project teams, validate the OFRF toolkit for new operations and further fine-tune the toolkit when needed, with a strong focus on training for strengthening staff capacity and knowledge. To close the feedback loop for lessons learned as well as for reporting on development results and effectiveness, the OPEC Fund is also exploring approaches to further strengthen project results monitoring and evaluation. The insights gained from the sharpened focus on devel- opment effectiveness allow the OPEC Fund to keep sight of the extent to which it is advancing toward its strategic objective of maximizing development impact. They also enable the OPEC Fund to remain accountable to its stake- holders, incorporate development effectiveness into all decision-making processes and build on an ever-expanding base of quantitative and qualitative information — of what works, what does not work and why in the pursuit of devel- opment. Upcoming editions of this annual Development Effectiveness Report will continue to tell the story of the OPEC Fund’s progress along this journey.
74
Powered by FlippingBook