OPEC Fund Quarterly - 2024 Q3

SPECIAL FEATURE

ARMENIA Green Inclusive and Sustainable Development Program

AZERBAIJAN ACWA Wind Power

Total project cost US$347 million

Total project cost US$153.61 million

OPEC Fund contribution US$50 million term loan Goals 1. Co-finance the construction and operation of the 240 MW Absheron-Khizi Wind Power Plant. 2. Generate up to 893 gigawatt hours (GWh) of clean electricity annually while reducing carbon emissions by more than 400,000 tons per year. OPEC Fund climate finance 100 percent are climate mitigation finance

OPEC Fund contribution €50 million policy-based loan Goals 1. Improve climate resilience and reducing environmental impacts.

2. Enhance equity and human capital development. 3. Improve public sector governance and efficiency. OPEC Fund climate finance

Of the total loan 43.75 percent are dedicated to climate finance of which 15.63 percent are adaptation finance and 28.13 percent are mitigation finance

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24

2

2

UZBEKISTAN ACWA Wind Power

27

27

1

1

3

3

4

4

20

20

15

15

Total project cost US$656.57 million for ACWA Power Dzhankeldy and US$688.41 million for ACWA Power Bash OPEC Fund contribution A US$20 million senior loan to each Goals 1. Construct and operate the 500 MW Dzhankeldy wind farm and the 500 MW Bash wind power plant in Uzbekistan. 2. Boost renewable energy generation capacity while reducing GHG emissions and diversifying the energy mix. OPEC Fund climate finance Of the total loan, 100 percent are dedicated to mitigation finance.

24

24

29 25

29 25

BURUNDI Agricultural Production Intensification & Vulnerability Reduction Project Total project cost US$68.26 million OPEC Fund contribution US$20 million sovereign loan Goals 1. Intensify agricultural production. 2. Improve access to markets. 3. Improve productivity and nutritional situation of households. 4. Ensure greater resilience of

MALDIVES Outer Islands Harbors, Water Supply and Sewerage Facilities Total project cost US$65.25 million OPEC Fund contribution US$50 million sovereign loan Goals 1. Improve living conditions for 20,000 people living on 13 outer islands of the Maldives by

providing sustainable access to safe water and sanitation services. This includes physical works on water supply networks and sewage systems. OPEC Fund climate finance Of the total loan 51.2 percent are adaptation finance.

small farmers to external shocks, especially climate- related. OPEC Fund climate finance Of the total loan 29 percent are dedicated to adaptation finance.

Photo: Mohammed Shanoon/OPEC Fund

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