THE OPEC FUND
Strategic Framework 2030
The Ministerial Council approved the general principles of the Strategic Framework in July 2019 at its 40 th annual session and authorized the Governing Board, along with Management, to complete all necessary preparations to implement the strategy. The five pillars of the OPEC Fund’s Strategic Framework ensure the organization’s focus remains on maximizing its development impact, strengthening its position to deliver ever more responsively to the changing needs of partner countries, and improving its contribution to the Sustain- able Development Goals (SDGs). Creating a special fund known as the Special Capital Resources (SCR) allows the organization to grow its operations in the least developed countries by providing long-term and low-cost loans to support economic and social development. The existing capital resources of the OPEC Fund, renamed Ordinary Capital Resources (OCR), will enable the organization to continue to deploy financing to developing partner coun- tries with a higher level of economic development and to private sector clients.
In line with the Strategic Framework 2030, all grants provided by the OPEC Fund support initiatives and activities with measurable development impact. For country-specific grants, we prioritize activities that facil- itate the preparation and implementation of new devel- opment operations. This ensures worthwhile projects with strategic partners are granted the early-stage assistance many require to get off the ground. An Implementation Plan guides Management through the implementation process. Chaired by the Assistant Director-General, Public Sector Operations, an Imple- mentation Committee composed of members of Senior Management monitors the progress of workstreams and ensures timely and effective implementation of the Strategic Framework.
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