CHAPTER 5
IMPLEMENTING THE OPEC FUND
RESULTS FRAMEWORK DEVELOPMENT
After the 2022 approval of the OPEC Fund Results Frame- work (see box below), the focus of 2023 has been on imple- mentation.
THE OPEC FUND RESULTS FRAMEWORK (OFRF): A BRIEF OVERVIEW
Figure 12: OPEC Fund Results Framework structure
Approved by the Governing Board in September 2022, the OFRF will track key OPEC Fund indicators across four levels (Figure 12) . These four levels correspond to how the OPEC Fund uses its resources (level 4) for designing and imple- menting operations and other activities (level 3) that pro- duce concrete development results (level 2) which contrib- ute to improving global development challenges (level 1). Level 1 of the results framework consists of high-level indica- tors of the SDGs to which OPEC Fund projects and programs are expected to plausibly contribute. Level 2 of the OFRF presents some of the main aggregate development results of OPEC Fund-supported projects. Level 3 indicators meas- ure how well the OPEC Fund deploys its resources and man- ages its projects, and level 4 indicators track how efficiently the OPEC Fund conducts its business. The OPEC Fund is currently collecting data on the draft OFRF indicators to test their robustness and will, after the current testing period, up- date the framework where necessary. A public launch of the OFRF indicators is expected for 2025.
LEVEL 1
Global/Regional Development Progress
LEVEL 2
Results of OPEC Fund Operations
LEVEL 3
Operational Effectiveness of the OPEC Fund
LEVEL 4
Organizational Efficiency of the OPEC Fund
64
Powered by FlippingBook