The Opec Fund for International Development (Opec Fund) has announced up to $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.
The co-financing
announcement was made by Opec Fund President Abdulhamid Alkhalifa during the
17th replenishment session of the ADF, the concessional financing window of the
African Development Bank Group.
“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 accounts for
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 a core
focus of engagement.
