OPEC Fund Quarterly - 2024 Q4

SPECIAL FEATURE

Share of the population living in urbanized areas vs. GDP per capita, 2022

100%

Venezuela

Singapore

Belgium

GDP per capita is adjusted for inflation and for differences in the cost of living between countries.

Chile

Brazil

Malta

United States

Djibouti

Jordan

Mexico

Germany

Russia

0%

Iran

Japan

South Africa

Ireland

Angola

Cameroon

Kazakhstan

Haiti

China

Philippines

Nigeria

Israel

60%

Liberia

Indonesia

Togo

Senegal

Qatar

Democratic Republic of Congo

Thailand

India

Madagascar

40%

Tanzania

Tajikistan

Afghanistan

Eswatini

Cambodia

Ethiopia

Bahrain

Niger

Sri Lanka

20%

Burundi

Circles sized by population (historical)

600M

1.4B

0%

$1,000

$2,000

$5,000

$10,000

$20,000

$50,000

$100,000

GDP per capita

Asia

North America

Oceana

South America

Africa

Europe

Source: OurWorldinData.org/urbanization; Data source: HYDE (2023); Bolt and van Zanden – Maddison Project Database 2023; Note: GDP per capita is expressed in international-$¹ at 2011 prices 1 International dollars are a hypothetical currency that is used to make meaningful comparisons of monetary indicators of monetary indicators of living standards. Figures expressed in international dollars are adjusted for inflation within countries over time, and for differences in the cost of living between countries. The goal of such adjustments is to provide a unit whose purchasing power is held fixed over time and across countries, such that one international dollar can buy the same quantity and quality of goods and services no matter where or when it is spent. Read more in our article: What are Purchasing Power Parity adjustments and why do we need them?

before reaching its full potential. Key components of the project include: •  Upgrading Infrastructure: Improving roads, drainage systems and street lighting. •  Enhancing Water and Sanitation: Installing water supply systems and sanitation facilities. •  Community Involvement: Engaging residents in planning and implementation to ensure the sustainability of improvements. The OPEC Fund also collaborated with WSUP in a project to improve access to water services in poor communities across the cities Antananarivo, Mahajanga and Toliara in Madagascar and Beira in

Mozambique, benefiting around 150,000 people. Another notable initiative is the Nubian Vaults project in Western Africa, aimed at enhancing access to affordable and sustainable housing in the Sahel region by building sustainable homes using traditional construction techniques. Thousands of families in Benin, Burkina Faso, Ghana, Mali, Mauritania and Senegal have benefited from these sustainable homes. The Nubian Vault is a non-profit organization named after a traditional technique known for the curved surface forming a vaulted structure. The OPEC Fund’s efforts in housing and urban development are part of

The traditional building style employed in the Nubian Vaults Project in Western Africa

the institution’s mission to stimulate economic growth and social progress, including a commitment to sustainable development, in particular SDGs 1, 3, 5, 6, 7, 11 and 13 in low- and middle-income countries.

23

Powered by