CHAPTER 2
Two OPEC Fund projects contribute to SDG target 16.6 (Table 16) , which aims to ensure effective and transparent institutions. One of these projects is the ¤50 million policy- based loan to the Republic of Armenia which features, among other actions, the implementation of anti-corruption and jus- tice sector strategies. The other project is a US$20 million
policy-based loan to the Republic of Seychelles that includes the implementation of policies that will require state-owned enterprises to publish their annual reports. All these actions are expected to help ensure the broader SDG 16 - Peaceful and Inclusive Societies objective of promoting accountable and inclusive institutions at all levels.
Table 16: Project contributions to SDG 16
SDG target
Nr. of contributing projects
% of contributing projects
16.6 Develop effective, accountable and transparent institu- tions at all levels
2
5%
Six OPEC Fund projects approved in the analysis window support the very broad SDG 17 - Partnerships which aims to foster Global Partnerships for Sustainable Development. Half of these projects contribute to target 17.3, which concerns the mobilization of additional financial resources for devel- oping countries from multiple sources. Projects contribut- ing to this target include a US$38 million syndicated loan to
Unique Meghnaghat Power Limited for the construction of a combined cycle LNG power plant in partnership with finan- ciers such as DEG, AIIB and Standard Chartered. Another example is a US$20 million loan in favor of a special purpose vehicle incorporated by ACWA Power to develop a 500 MW wind farm in the Bukhara Region of Uzbekistan that included financiers such as EBRD, ADB, DEG and Proparco.
Table 17: Project contributions to SDG 17
Nr. of contributing projects
% of contributing projects
SDG target
17.1 Strengthen domestic resource mobilization, including through international support to developing countries, to improve domestic capacity for tax and other revenue collection
1
2%
17.3 Mobilize additional financial resources for developing coun- tries from multiple sources 3
7%
17.14 Enhance policy coherence for sustainable development
2
5%
28
Powered by FlippingBook