Source : WAM
The OPEC Fund for International Development (OPEC Fund) has announced plans to provide up to US$2 billion in co-financing with the African Development Fund (ADF) for 2026–2030, reaffirming its enduring commitment to Africa and concessional financing for the continent’s most vulnerable nations.
The announcement was made by OPEC Fund President Abdulhamid Alkhalifa during the 17th replenishment session of the ADF, the concessional financing arm of the African Development Bank Group.
“Africa remains central to the OPEC Fund’s development mandate, and we are strongly committed to providing affordable, long-term financing where it is needed most across the continent,” President Alkhalifa stated. “Through collaboration with the ADF, we are investing in energy access, food security, climate resilience, and human capital – key foundations for sustainable growth and stability throughout Africa.”
Africa represents the largest regional portion of the OPEC Fund’s portfolio. Since its establishment in 1976, the Fund has approved over $14.6 billion in financing for African countries. Under its Strategic Framework 2030, the OPEC Fund is expanding its operations, with Africa remaining a primary focus of engagement.
