Vienna: The Governors of the OPEC Fund for International Development (the OPEC Fund) convened for their 196th meeting today, during which they approved a series of new development projects. These initiatives span sectors including transport connectivity, healthcare, water security, climate resilience, social protection, and private sector development across regions such as Africa, Asia and the Pacific, Latin America, and the Caribbean.
According to Emirates News Agency, alongside project approvals in the second quarter of 2026, the OPEC Fund has launched the US$1.5 billion Economic Stability, Trade and Resilience Initiative (E-STAR). This marks a cumulative advancement of more than US$2.4 billion in financing and development support since the previous Governing Board meeting.
OPEC Fund President Abdulhamid Alkhalifa highlighted the significance of these approvals as the organization commemorates its 50th anniversary. He emphasized their dedication to assisting partner countries in investing in resilience and long-term growth. The focus areas include healthcare, water security, transport, and digital infrastructure, all aimed at enhancing current living conditions and reinforcing future foundations.
The approved projects are designed to bolster social protection, infrastructure, economic governance, small businesses, and food security. The E-STAR initiative is set to offer rapid, demand-driven financing from 2026 to 2028, aiding partner countries in maintaining essential services, securing vital imports, and enhancing resilience against energy, commodity, and trade disruptions.
