The OPEC Fund for International Development has introduced as much as $2bn in co-financing with the African Growth Fund for the interval 2026–2030, reaffirming its long-standing dedication to Africa and to concessional financing for the continent’s most susceptible nations.
The announcement was made by Abdulhamid Alkhalifa, President of the OPEC Fund, through the seventeenth replenishment session of the African Growth Fund, the concessional financing window of the African Growth Financial institution Group.
President Alkhalifa stated: “Africa stays central to the OPEC Fund’s improvement mandate, and we’re firmly dedicated to delivering inexpensive, long-term financing the place it’s wanted most throughout the continent.
Opec funding in Africa
“By becoming a member of forces by means of the ADF, we’re investing in power entry, meals safety, local weather resilience and human capital – foundations which are crucial for sustainable development and stability throughout the continent.”
Africa accounts for the most important regional share of the Fund’s portfolio. Since its institution in 1976, the establishment has authorized greater than $14.6bn in financing for African nations.
Beneath its Strategic Framework 2030, the Fund is scaling up its operations, with Africa remaining a core focus of engagement.
