SPOTLIGHT
OPEC Fund Development Forum marks 50 years of partnership and impact Launch of Vulnerability to Viability (V2V) Compact as President Alkhalifa urges: “At a time of uncertainty, development cooperation matters most”
T he 2026 OPEC Fund Development Forum became a platform to turn the institution’s Golden Jubilee into a powerful beacon for a new era of development. “Fifty years after the establishment we have entered a new phase of responsibility,” President Abdulhamid Alkhalifa said in his keynote address on June 23 in Vienna, Austria. “Moments of uncertainty, as we are witnessing today, are a time when development cooperation matters most.” Turning concepts into action, the event saw the launch of the Vulnerability to Viability (V2V) Compact, developed by the OPEC Fund and the Government of Barbados, as Chair of the Climate Vulnerable Forum and its V20 Finance Ministers. The V2V Compact is designed to help climate- vulnerable economies access more affordable, predictable and long-term development finance. The initial focus of the accord is on water security, education and health, reflecting the practical foundations of resilience: keeping essential services running before, during and after crises.
Mia Mottley, the Prime Minister of Barbados and one of the driving forces of the Compact, said: “It means that ordinary people can have access to the things that they need to be able to protect their lives and their livelihoods. It will ensure that governments can bring development and take care of the well-being of their populations” (see interview on p. 37).
33
Powered by FlippingBook