3 SDG 7 has traditionally been a strong focus area of the OPEC Fund, as reliable and sustainable access to energy is key to development. The top three SDG 7 targets supported by OPEC Fund projects approved since 2018 are 7.1, 7.2 and 7.a (Table 7) . Projects approved since 2018 that contribute to SDG 7 include, for example, a US$30 million loan for building SDG target
a 200MW solar plant in Egypt, a US$36 million loan to support the integration and expansion of Mozambique’s electricity grid, and a US$120 million policy-based loan to Panama for specific actions that will allow the country to reduce and limit its greenhouse gases emissions while becoming more resil- ient to climate change.
Table 7: Ensure access to affordable, reliable, sustainable and modern energy for all
% of contributing projects
Nr. of contributing projects
7.1 By 2030, ensure universal access to affordable, reliable and modern energy services 18
7%
7.2 By 2030, increase substantially the share of renewable energy in the global energy mix
8
3%
7.3 By 2030, double the global rate of improvement in energy efficiency 5
2%
7.a By 2030, enhance international cooperation to facilitate access to clean energy research and technology, including renewable energy, energy efficiency and advanced and cleaner fossil-fuel technology, and promote investment in energy infrastructure and clean energy technology 7.b By 2030, expand infrastructure and upgrade technology for supplying modern and sustainable energy services for all in developing countries, in particular least developed countries, small island developing States and landlocked developing countries, in accordance with their respective programs of support
8
3%
7
3%
29
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