non-trade projects. Main development results the reviewed OPEC Fund-supported projects helped bring about include 10,853 kilometers of roads built or rehabilitated, 117 health care facilities upgraded, 240,409 households with new or im- proved water connections, 2.86 million households with new or improved access to electricity, 3.77 Gigawatts in new or re-
the OFRF will not only track key corporate performance, strategic alignment and results indicators across four levels (global/regional development progress, operations’ results, operational effectiveness, organizational efficiency), but is also accompanied by a project-level toolkit to ensure that projects are prepared in a way that ensures the consistent
furbished energy capacity (of which 334 Megawatts renewable), 342,096 MSMEs financed, 167 educational fa- cilities built or upgraded, 15,723 kilo- meters of transmission lines built or rehabilitated, 1.76 million farmers supported, and more than 400,000 women empowered.
assessment, monitoring and eval- uation of their development effec- tiveness. The OFRF project-level toolkit is already under implemen- tation, with the full launch of the OFRF indicators expected for 2025 following an initial two-year trial period.
>400,000 women empowered
Most results in the agriculture, health, transport, education and water & sanitation sectors were delivered by SO projects. Meanwhile, NSO projects contributed heavily to the achieve- ment of results in the energy sector and in support to micro, small and medium-sized enterprises (MSMEs). Reflecting the regional and sectoral distribution of the examined projects, most results measuring improved access to water & sanita- tion, healthcare and energy were achieved in Africa, while a majority of its MSMEs were supported in Asian countries, followed by Latin America and the Caribbean. It is important to note that data on beneficiaries (such as students, women, patients, minorities etc.), were not collected for many pro- jects, therefore, numbers reflecting end-beneficiaries are considered to significantly underestimate the actual reach of OPEC Fund project benefits. With the Strategic Framework 2030 stressing the central importance of development impact to the OPEC Fund’s mission, management created a dedicated Development Effectiveness function in 2020 and has developed a comprehensive results framework (the OPEC Fund Re- sults Framework, or OFRF) to anchor its approach to development effectiveness. Approved in September 2022,
The improved development results tracking and monitor- ing practices introduced under the new OPEC Fund Results Framework (OFRF) are not only expected to gradually in- crease the share of projects for which results data is avail- able, but will also put particular emphasis on measuring project deliverables, as well as the extent and benefits of their use. This will, in the future, allow the OPEC Fund to pro- vide an even more comprehensive picture of the reach and benefits of its projects. The OPEC Fund is committed to continuing and expanding its development work. The OFRF and its toolkit significantly enhance this aim by boosting the OPEC Fund’s capacity to learn from, and communicate the results of, its activities. In the coming years, development effectiveness efforts will be further strengthened via enhancing project evaluation, while also growing the database and systems capabilities for tracking results and alignment. Strengthened development effectiveness will provide a strong foundation for the Fund to grow the scale, scope and impact of its operations by informing the way the institution deepens its development footprint, and by establishing a culture of accountability and continuous learning.
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