EVENTS
Fiji mission yields rich results
Pacific Healthy Islands Transformation Project
President signs OPEC Fund’s first loan agreement with South Pacific island nation
IFAD Leaders’ Dialogue Fireside Chat, Rome
D evelopment finance must continually evolve to address complex global challenges while upholding the principles of sound banking. New thinking and innovative approaches are essential to mobilize resources and deliver measurable impact. These themes framed a Leaders’ Dialogue Fireside Chat hosted by the International Fund for Agricultural Development (IFAD) in February in Rome. Representing the OPEC Fund, Vice President, Strategy Musab Alomar spoke at a panel about “New frontiers for IFIs financing rural development at the first mile.” He advocated a three-step approach, starting with building investable pipelines aligned with government priorities and supported by coordinated financing packages: “Countries lead, partners align,” he said. Vice President Alomar highlighted the OPEC Fund’s toolkit – sovereign lending, policy-based financing, results- oriented approaches, private sector operations and trade finance – and emphasized its “South-South DNA” and the ability “to scale beyond our balance sheet” through co-financing and joint action with partners such as the Arab Coordination Group. The OPEC Fund played a key role in the establishment of IFAD in 1978 and has since contributed more than US$1 billion to more than 120 IFAD-supported agriculture and rural development projects worldwide. Vice President Alomar advocates a three-step approach: Build project pipeline – align with government – coordinate financing Shaping the next generation of rural development financing
T he OPEC Fund and Fiji made history late in 2025 with the signing of their first-ever loan agreement. President Abdulhamid Alkhalifa and Minister of Finance Esrom Immanuel concluded a US$30 million agreement in the capital Suva in support of the Pacific Healthy Islands Transformation Project. The project aims to modernize health services and improve access to quality care across the South Pacific island nation. It will strengthen Fiji’s health system through “Networks of Care,” a network combining public healthcare services, community- based initiatives, grassroots organizations and international partners. The loan will also finance improved service delivery and greater resilience to climate and health shocks. Fiji is a Small Island Developing State (SIDS) facing acute climate vulnerabilities. The OPEC Fund is working closely with the Pacific Islands Forum Secretariat (PIFS) under its Island Resilience Facility to scale up climate adaptation efforts across the region. Launched in 2025, the facility combines financing with technical assistance to help SIDS safeguard development gains. SIDS will also benefit from the OPEC Fund’s new Green-Blue Connect Initiative, a US$3 billion platform that finances climate adaptation and mitigation by linking the
resilience of water systems with the decarbonization of energy systems.
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OPEC Fund President Abdulhamid Alkhalifa and Fiji’s Minister of Finance Esrom Immanuel
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