An official statement said that the fund, since its inception, has allocated more than $24 billion from its own resources to more than 4,000 projects in more than 125 countries around the world, with a total value of about $190 billion.
He added that last year, the OPEC Fund allocated $1.6 billion through 48 projects to increase economic resilience, support growth, and promote development. The financing of the OPEC Fund secures basic supplies, supports infrastructure development, and enhances economic flexibility.
He stated that the OPEC Fund addresses long-term challenges and is a key player in achieving the goals of sustainable development, pointing out that last year the OPEC Fund launched an action plan for food security worth $1 billion in response to the disruption of the global supply chain.
Dr. Akinwumi Adesina, President of the African Development Bank Group, Dr. Mohamed Al-Jasser, President of the Islamic Development Bank Group, and Remy Rio, CEO of the French Development Agency, participated in the opening of the forum.
It is noteworthy that the OPEC Fund works in cooperation with partners from developing countries and the international development community to stimulate economic growth and social progress in low- and middle-income countries around the world.
It is known that the OPEC Fund was established in 1976 with the aim of accelerating development, strengthening societies and empowering people by financing projects that meet basic needs such as food, energy and infrastructure.
Click here to watch an interview with the Egyptian Minister of International Cooperation
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