Chapter 5 | PROJECTS CONTRIBUTING TO THE OPEC FUND’S CLIMATE FINANCE
The documentation of the featured projects is designed to discuss the purpose of a loan and the expected out- comes within the context of the climate risk profile of each country. To set the country context, the featured pro- jects refer to the ND-GAIN Index - 2023 19 , which assesses the vulnerability and readiness of 181 countries in facing climate change and other global challenges. The country’s ranking on the ND-GAIN index reflects its vulnerability. The ND-GAIN Index scores countries based on their
susceptibility to climate risks (with lower scores indicat- ing higher vulnerability) and their readiness to enhance resilience (with higher scores indicating greater prepared- ness). For context, Norway, which is ranked first, holds the highest score for resilience.
Each featured project provides a detailed account of climate finance tracking calculations, delving into project components and sub-components.
Selected Case Studies Overview
OPEC Fund Contribution in US$MN
Total Climate Finance (%)
Year of approval
Adaptation Finance (%)
Mitigation Finance (%)
Country
Project
Green Inclusive and Sustainable Development
ARMENIA
2023
50.00
15.63
28.13
43.75
240 MW Khizi-Absheron Wind Power Plant
AZERBAIJAN
2023
50.00
0
100
100
Agricultural Production Intensification and Vulnerability Reduction
BURUNDI
2020
20.00
28.95
0
28.95
Climate Action and Energy Transition
COLOMBIA
2023
150.00
29.27
43.90
73.17
Outer Islands Harbors, Water Supply and Sewerage Facilities
MALDIVES
2018
41.60
10.00
10.00
20.00
Program for National Climate Change
PANAMA
2022
120.00
58.33
41.67
100
SENEGAL
Water and Value Chain
2020
20.00
20.00
20.00
40.00
500 MW Bash & 500 MW Dzhankeldy Wind Farm
UZBEKISTAN
2022
20.00
0
100
100
19 The ND-GAIN index is a global free open-source index that measures a country’s current vulnerability to climate disruptions and assesses its readiness to leverage private and public sector investment for adaptive actions: https://gain.nd.edu/our-work/country-index
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