EVENTS
“This workshop is particularly important for the OPEC Fund as we work to increase our climate financing commitments.” Fatma Elzahra Elshhati, OPEC Fund Country Manager for MENA, Eastern Europe and Central Asia
The afternoon sessions kicked off with case studies of recently approved projects with the World Bank, taking an in-depth look into how climate co- benefits are calculated. Projects included the two recent OPEC Fund facilities Armenia Green Inclusive and Sustainable Development Policy-based Lending and North Macedonia Sustainability and Resilience Policy-based Lending. Fatma Elzahra Elshhati, Country Manager for MENA, Eastern Europe and Central Asia, explained how it all began in the Caucasus: “This workshop is particularly important for the OPEC Fund as we work to increase our climate financing commitments. It was jointly conceptualized with the World Bank’s Saša Eichberger and his team when we started to calculate the climate financing component of our policy-based loan to Armenia, approved in March 2023.” Two sessions focused on how to achieve alignment on the climate targets of the Paris Agreement. Starting with the rationale and implications, participants then took
Miriam Privarova, World Bank, Junior Professional Associate
“We have embarked on various initiatives with partner countries to promote climate financing and energy transition. In this regard, cooperation and knowledge-sharing with partners such as the World Bank is essential to achieve our targets and deliver on our ambitious commitments.” The workshop closed with a range of interventions, which variously focused on our partners and beneficiaries. Bah Aly Bah, OPEC Fund Country Manager for Eastern and Southern Africa, reminded colleagues of his trip to Zimbabwe in July 2023 for site visits to agriculture and education projects, which gave him a great sense of pride in his work. Malak Draz, Country Manager for West and Central Africa, wrapped up on behalf of the OPEC Fund by saying:
a deep dive into the objectives, followed by a panel discussion on challenges and potential solutions. Musab Alomar, OPEC Fund Director for MENA, Eastern Europe and Central Asia said:
“Partnership and collaboration amongst MDBs is key in a world
where demand for climate solutions is skyrocketing and where we have similar climate action plans and targets as other financiers.”
Saša Eichberger, World Bank Senior Environmental Specialist
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