LOOKING 6
AHEAD
The OFRF and its toolkit is significantly enhancing the OPEC Fund’s capacity to learn from, and communicate the results of, its activities. This report presented the substantial work undertaken in the past year. The OFRF, developed in 2022, will anchor and enhance the Fund’s approach to develop- ment results tracking. In the coming years, the OPEC Fund will continue to strengthen its development effectiveness practices. In 2023 and 2024 the Fund will roll out, test and refine its result framework, while also growing its database and systems capabilities for tracking results and alignment. The OPEC Fund also plans to develop its project evaluation capacity to deepen the insights it can generate from its activities. The structure and scope of project evaluation will be determined based on a careful analysis of the Fund’s portfolio and peer practices. The OPEC Fund is committed to continuing and expanding its development work, which has improved people’s lives in developing countries around the world since its establish- ment in 1976. Strengthened development effectiveness will provide a strong foundation for the Fund to grow the scope and impact of its operations by informing the way the insti- tution deepens its development footprint, and by establish- ing a culture of accountability and continuous learning.
A new results framework and project evaluation capacity will strengthen the OPEC Fund’s development effectiveness practices.
56
Powered by FlippingBook