03 | THE OPEC FUND – STRATEGIC FRAMEWORK 2030
The Results Framework will change the way the OPEC Fund goes about its business.
it is crucial to further increase the effectiveness and deepen the impact of OPEC Fund operations. A new Development Effectiveness Function is enhancing the impact of the OPEC Fund’s support to partner countries by measuring, monitoring and evaluating lending and non-lending activities with the help of a best practice OPEC Fund Results Framework. These Development Effectiveness guidelines, approved by the Governing Board in September 2022, introduced a new system of result indicators, comprising key metrics on the work of the OPEC Fund, structured across four levels:
• Assessment of organizational efficiency.
approved projects directly contribute to at least one SDG, with a majority contributing to two or more. The top two goals that projects were aligned with were SDG 8 – Decent Work and Economic Growth, and SDG 9 - Industry, Innovation and Infrastructure. This is in line with the OPEC Fund’s strong support for economic growth and development through infrastructure (including transport, energy and water & sanitation) as well as through the financial sector, rural development and multisector projects.
The Results Framework, which was rolled out starting in December 2022, will change the way the OPEC Fund goes about its business. An im- proved Project Results Framework, a Strategic Alignment Checklist and an Evaluation Readiness Checklist support implementation, improve impact and enable measurement in a transparent and verifiable way. An annual Development Effectiveness Report, first published in June 2023 in parallel with the Annual Report, takes stock of progress made and knowledge generated on development effectiveness. As part of its commitment to achieving the SDGs, in 2022 the OPEC Fund reviewed all operations approved since 2018 to assess delivery on this commitment. The review found that all
• Development context;
• Operational results;
• Measurement of operational effectiveness; and
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