Development Forum 2023

The next OPEC Fund Development Forum will take place on June 20, 2023 in Vienna and build on the success of the inaugural event in June 2022. Expanding on the overarching theme "Driving Resilience & Equity" the conference will discuss urgent and crucial development challenges, while providing a platform for networking and knowledge exchange between decision-makers and representatives of international organizations, businesses and civil society.

DELIVERING CONCRETE RESULTS

The first OPEC Fund Development Forum in June 2022 attracted more than 250 government and business representatives as well as senior leaders of international development organizations to join the event in Vienna. Delegates used the gathering to translate the spirit of cooperation in order to find joint solutions into delivering concrete results.

• The OPEC Fund, the UN Capital Development Fund and Sustainable Energy for All announced a new Climate Finance and Energy Innovation Hub. Designed as a global platform, this hub will harness the power of financial innovation to source, unlock, de-risk and scale up investments in energy access and transition. Recognizing the crucial role of clean cooking the OPEC Fund is earmarking US$100 million in support of relevant projects in DRC, Madagascar, Malawi, and Rwanda as part of the initiative.
• The International Renewable Energy Agency and the OPEC Fund signed a Memorandum of Understanding to facilitate access to innovative financing solutions, unlock investment and support project development to advance renewable energy investment and enable access to sustainable finance in emerging and developing economies.
• The OPEC Fund and the regional South American development bank FONPLATA signed a "Cooperation Agreement" to broaden and deepen the partnership.