The OPEC Fund for International Development (OPEC Fund) has reaffirmed its long-standing commitment to Africa and to provide concessional finance for the most disadvantaged nations on the continent by announcing up to US$2 billion in co-funding with the African Development Fund (ADF) for the years 2026–2030. During the 17th replenishment session of the African Development Bank Group’s concessional finance window, OPEC Fund President Abdulhamid Alkhalifa announced the co-funding.
Africa continues to be a key component of the OPEC Fund’s development mandate, and we are steadfastly dedicated to providing long-term, reasonably priced finance where it is most needed throughout the continent,” President Alkhalifa stated. “By working together through the ADF, we are investing in human capital, food security, energy access, and climate resilience—foundations that are essential for stable and sustained growth throughout the continent.
The majority of the OPEC Fund’s regional holdings are in Africa. The organization has authorized more than $14.6 billion in funding for African nations since its founding in 1976. Africa is a primary target of involvement as the OPEC Fund expands its operations under its Strategic Framework 2030.
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