INTRODUCTION
MESSAGE FROM THE OPEC FUND PRESIDENT
Dear Reader,
On behalf of the OPEC Fund for International Develop- ment, I am proud to present our second Development Effectiveness Report. In this review we examine the world- wide impact of our projects, in line with our vision to make “sustainable development a reality for all.” The report de- picts encouraging progress, which serves as a powerful impetus to continue along our chosen path. Examining the period from July 2022 to June 2023, the re- port finds that all 43 projects approved by the OPEC Fund during that interval contributed to at least one Sustainable Development Goal (SDG), with a majority (60 percent) contributing to two or more. On average, each approved project contributed to 2.7 SDGs, with a maximum of 10 SDGs (of 17) achieved by one project, a policy-based loan in Armenia. A breakdown shows that a majority of the ex- amined projects contributed to SDG 8 - Decent Work and Economic Growth - through a variety of channels, for in- stance providing support to increase access to finance for micro, small and medium-sized enterprises and to policy reforms to foster sustainable economic growth. The front- runner was followed by SDG 9 - Industry, Innovation and In- frastructure - and then SDG 1 - No Poverty. As most of our
projects address multiple goals, our work is clearly much more than the sum of its parts — similar to the UN 2030 Agenda itself.
In addition to tallying up the expected SDG alignment of new projects, the report also looks back at actual achievements. A review of all OPEC Fund operations that have either reached completion or early operating matu- rity during the mid-2022 to mid-2023 period finds that these projects have delivered important results: Around 15.7 million people gained improved access to healthcare, more than 1 GW in renewable energy capacity was installed, while more than 300,000 farmers, 120,000 students and 4,600 MSMEs benefited through projects in various sectors. Through our Strategic Framework 2030, we are deepening our impact by growing and enhancing our operations to address the rising demand for South-South development cooperation. With the creation of our Development Effec- tiveness Unit, we have gathered a group of experts to train and support our Operations teams in planning and imple- menting projects that maximize results.
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