Vienna: The fourth OPEC Fund Development Forum concluded in Vienna with new commitments totaling approximately $720 million in financing to support sustainable development and inclusive transition across Africa, Asia, Latin America, and the Caribbean.
Held under the theme “A Transition That Empowers Our Tomorrow,” the forum brought together more than 700 global leaders from governments, development institutions, and the private sector.
Key announcements included $362 million in new loan agreements and the launch of a Trade Finance Initiative to secure essential imports and address trade-related liquidity gaps in partner countries. As part of its Small Island Developing States (SIDS) initiative, the OPEC Fund signed agreements with Grenada and the Solomon Islands to enhance climate resilience and sustainable infrastructure.
Among major bilateral agreements, Oman secured a $212 million loan for the Khasab–Daba–Lima Road Project and introduced a five-year Country Partnership Framework (CPF). Cameroon received a $25 million loan for a Rice Value Chain Development Project, in partnership with the Islamic Development Bank, BADEA, and the Kuwait Fund. Rwanda signed a CPF with financing of up to $300 million through 2028.
New cooperation frameworks were also established with Azerbaijan and Botswana, supporting sectors such as infrastructure, renewable energy, innovation, and private sector growth. The Kyrgyz Republic engaged in discussions to enhance cooperation in transport, energy, agriculture, and finance.
The forum further highlighted support for private sector-led growth, with loans totaling €65 million to financial institutions in Côte d’Ivoire, and a $40 million agreement with the East African Development Bank to boost SME financing and regional economic integration.
The OPEC Fund also signed agreements with international organizations to support food security, infrastructure, and anti-corruption efforts. These included partnerships with the Central American Bank for Economic Integration (CABEI), the Islamic Organization for Food Security (IOFS), and the International Anti-Corruption Academy (IACA).
OPEC Fund President Abdulhamid Alkhalifa noted that the forum resulted in tangible outcomes, strategic collaborations, and innovative financing solutions aimed at translating development goals into action across critical sectors.
