CHAPTER 2
Under SDG 10 - Reduced Inequality, key areas of the OPEC Fund’s support are target 10.1, which focuses on helping increase and sustain income growth for lower-income segments, as well as target 10.4 for the adoption of fiscal, wage and social protection policies (Table 10) . Projects approved since mid-2022 include a US$70 million loan to the Republic of Côte d’Ivoire for the Economic and Social Reform Support Program (PARES Phase III) which aims to
increase the allocation of public resources to disadvan- taged populations by strengthening the efficiency and transparency of public spending. Another project contrib- uting to SDG 10 is a ¤50 million policy-based loan to the Republic of Armenia that includes the promotion of inclu- sive development in the country by, for example, increas- ing the share of transfers to the bottom income quintile of the population from 50 percent to 75 percent.
Table 10: Project contributions to SDG 10
SDG target
Nr. of contributing projects
% of contributing projects
10.1 By 2030, progressively achieve and sustain income growth of the bottom 40 per cent of the population at a rate higher than the national average 2
5%
10.2 By 2030, empower and promote the social, economic and political inclusion of all, irrespective of age, sex, disability, race, ethnicity, origin, religion or economic or other status 1
2%
10.4 Adopt policies, especially fiscal, wage and social protec- tion policies, and progressively achieve greater equality 2
5%
Four OPEC Fund projects approved between mid-2022 and mid-2023 support SDG targets 11.2 and 11.6 (Table 11) . One project that aligns with target 11.2 is a US$47 million loan to the Republic of Uzbekistan that consists of the reconstruc- tion and upgrading of a road with bypasses to reduce acci- dents, congestion and pollution in urban settlements in the
project area. A target 11.6-supporting project is the US$50 million policy-based loan to the Republic of Armenia which includes a prior action to establish a framework for monitor- ing atmospheric air pollution and greenhouse gas emissions. These data are expected to be shared with the public, con- sistent with climate, health, social and welfare needs.
Table 11: Project contributions to SDG 11
SDG target
Nr. of contributing projects
% of contributing projects
11.2 By 2030, provide access to safe, affordable, accessible and sustainable transport systems for all, improving road safety, notably by expanding public transport, with special atten- tion to the needs of those in vulnerable situations, women, children, persons with disabilities and older persons
2
5%
11.6 By 2030, reduce the adverse per capita environmental impact of cities, including by paying special attention to air quality and municipal and other waste management 2
5%
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