OPEC Fund to co-finance $2B for “Africa Development”

December 24, 2025 / 11:12 PM

Sharjah 24 – WAM: The OPEC Fund for International Development (OPEC Fund) has announced up to US$2 billion in co-financing with the African Development Fund (ADF) for the period 2026–2030, reaffirming its long-standing commitment to Africa and to concessional financing for the continent’s most vulnerable countries.

Announcement made during ADF replenishment session

The co-financing initiative was announced by OPEC Fund President Abdulhamid Alkhalifa during the 17th replenishment session of the ADF, the concessional financing window of the African Development Bank Group.

Focus on sustainable development across Africa

“Africa remains central to the OPEC Fund’s development mandate, and we are firmly committed to delivering affordable, long-term financing where it is needed most across the continent," President Alkhalifa said. "By joining forces through the ADF, we are investing in energy access, food security, climate resilience and human capital — foundations that are critical for sustainable growth and stability across the continent.”

Africa as a core focus of the OPEC Fund

Africa represents the largest regional share of the OPEC Fund’s portfolio. Since its establishment in 1976, the institution has approved more than $14.6 billion in financing for African countries. Under its Strategic Framework 2030, the OPEC Fund is scaling up its operations, with Africa remaining a core focus of its engagement.