3 The OPEC Fund is committed to contributing to the achieve- ment of the Sustainable Development Goals (SDGs). In 2022, the OPEC Fund conducted a review of all operations ap- proved since 2018 6 to assess delivery on this commitment. The review found that all OPEC Fund-approved projects contribute to at least one SDG, with a majority (60 percent) contributing to two or more. On average, each project con- tributes to two SDGs, with a maximum of 7 SDGs 7 (Figure 11) . Overall, OPEC Fund operations approved since 2018 contribute to almost all SDGs (Figure 12) . 8 SUSTAINABLE THE OPEC FUND AND THE DEVELOPMENT GOALS Figure 12: SDGs contributed to by OPEC Fund operations approved 2018 - mid-2022 Figure 11: Number of SDGs supported per project Nr. of SDGs per project 7 6 5 4
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The top two SDGs that OPEC Fund projects were aligned to were SDG 8 — Decent work and economic growth, with 185 (or 69 percent of all reviewed) projects contributing, fol- lowed by SDG 9 — Industry, innovation and infrastructure, with 139 (or 51 percent projects contributing). This is in line with the OPEC Fund’s strong support for economic growth and development through the financial sector, as well as for infrastructure development through transport, energy, water & sanitation, rural development and multisector projects. 9 The wide range of SDGs that OPEC Fund operations con- tribute to reflects the diversified and wide-ranging nature of the approved portfolio. One-third of projects contributed to SDG 1 — No poverty, making it the third-most frequent goal for OPEC Fund operations. For all SDG contributions, see Figure 13 .
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Nr. of projects
6 All 270 projects approved between the beginning of 2018 and Q3 2022 were assessed for SDG alignment. To do so, each project’s objective, description and targets/expected development outputs and outcomes were mapped and the ap- plicable SDGs to which the project is expected to contribute were identified. To qualify for alignment, a project needed to either plausibly contribute to a specific SDG indicator and/or target. 7 The one project supporting 7 SDGs is a rural development project in Sierra Le- one which supported climate-resilient agriculture and a variety of activities to improve the productivity and livelihoods of smallholder farmers. It contributed to SDGs 1, 2, 6, 8, 9, 10 and 17.
8 The only exceptions for projects approved during this specific time period are SDGs 14 (Life below water) and 15 (Life on land).
9 For the sector mix of the reviewed portfolio, see Annex 2, Figure 2.2.
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