EVENTS
IN BRIEF
OPEC Fund delegation at IsDB Annual Meeting
OPEC Fund delegation attends development partners’ annual meetings Annual Meetings of development banks are important opportunities to strengthen cooperation and build new partnerships. Vice President, Public Sector, Al Shaimaa Al-Sheiby led a delegation to the 2025 conference of the Asian Development Bank in Milan for meetings with business partners, co-financiers and commercial banks. Meanwhile, the European Bank for Reconstruction and Development’s meeting in London was attended by Vice President, Private Sector Tareq Alnassar and Business Development Investment Manager Oladipo Ajike. A combined Public and Private Sector delegation headed by Africa Director Mahmoud Khene and Business Development Director Khalid Khadduri attended the 2025 African Development Bank (AfDB) meeting in Abidjan.
President leads mission to Algiers in support of one of our closest partners
D ecision makers from the 57 member states of the Islamic Development Bank (IsDB) gathered with representatives of partner organizations for the institution’s Annual Meeting in Algiers in mid-May. Leading the OPEC Fund delegation President Abdulhamid Alkhalifa said: “The IsDB is one of our closest
IsDB Annual Meeting, Algiers
partners and this meeting is an important opportunity to deepen cooperation and promote sustainable development.” A bilateral meeting with IsDB President Muhammad Al Jasser stood high on the agenda and allowed for an update on current projects, planned operations and potential joint initiatives. To date, the two institutions have co-financed 188 operations, with the OPEC Fund contributing US$2.3 billion and €190.5 million. The OPEC Fund President’s agenda also included meetings with The Gambia, Guinea, Kazakhstan, Kyrgyz Republic, Pakistan, Sierra Leone, Somalia, Tajikistan and Türkiye. He also met with the International Islamic Trade Finance Corporation, State Bank of Turkmenistan, West African Development Bank and United Nations Development Program. Meetings with partner organizations and private sector investors completed the engagements in Algiers. In a keynote address at an event on the Riyadh Global Drought Resilience Partnership the President reiterated the OPEC Fund’s commitment to combatting desertification following a US$1 billion pledge last year. This is now translated into action: “To help deliver lasting impact, we have completed a comprehensive assessment of our land degradation financing, identifying opportunities to scale up investments and align with Land Degradation Neutrality targets,” the President explained.
Al Shaimaa Al-Sheiby, Vice President, Public Sector, OPEC Fund, and Bakyt Sydykov, Minister of Economy and Commerce, Kyrgyz Republic
Environmental and Social (E&S) capacity building program The OPEC Fund and the African Development Bank organized an Environmental and Social (E&S) capacity building program for African countries in June. The workshop brought together government officials and regulators from Benin, Burkina Faso, Comoros, Côte d’Ivoire, Democratic Republic of the Congo, Gabon, Mauritania, Morocco, Nigeria, Senegal, Sierra Leone, Togo and Uganda with representatives of multilateral development banks and international experts. Participants discussed ways to harmonize global and national standards, regulations and procedures in areas such as land acquisition and resettlement, biodiversity protection, cultural heritage management and environmental clearance. As a next step, the initiative will be rolled out in country missions. Read more in the next OPEC Fund Quarterly.
Adeeb Y. Alaama , CEO , International Islamic Trade Finance Corporation (ITFC) , and Abdulhamid Alkhalifa, President, OPEC Fund
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Photo: ITFC
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