ABOUT
THE OPEC FUND
The OPEC Fund for International Development is a multilateral institution dedicated to supporting the achievement of the Sustainable Development Goals through the provision of financing, technical assistance and knowledge sharing.
The institution was established in 1976 and is the only global development institution that provides financing exclusively to non-member, low and middle income countries. To date, more than US$24 billion in OPEC Fund financing has supported more than 4,000 development projects on four continents. Under its Strategic Framework 2030 (see page 52), the OPEC Fund identifies seven key focus areas: agriculture, education, energy, financial institutions, health, transportation and water & sanitation. The OPEC Fund can offer loans, trade finance, guarantees, grants and equity. The majority of investments are in the public sector.
Leveraging its own commitments the OPEC Fund is able to mobilize substantial engagement from its partners, which include governments, international and regional develop ment institutions as well as the private sector. Roughly four out of five of all operations are co-financed. Of those, more than 80 percent are co-financed with other development financial institutions. In its approach, the OPEC Fund combines addressing long-term challenges and responding to short-term emergencies. Last year, the institution took two significant steps to satisfy both those instances: the adoption of a dedicated Climate Action Plan to address the twin
challenges of energy access and climate change, and the launch of a Food Security Action Plan in response to severe global supply chain disruptions. The OPEC Fund is always working towards strengthening its effectiveness and deepening its impact. Governance in line with international best practice is as much an essential part of this policy as is the implementation of a development effectiveness framework and the successful introduction of a Sustainable Development Goals (SDG) Bond Framework.
Our mission is to drive development, strengthen communities and empower people.
Our vision is a world where sustainable development is a reality for all.
MISSION STATEMENT
VISION STATEMENT
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