OPEC Fund approves over US$720 million in new development financing supporting food security, water sector and public policy

June 18, 2025: The OPEC Fund for International Development (OPEC Fund) has approved over US$720 million in new development financing to improve access to essential services, boost climate resilience and food security in countries across Africa, Asia and Latin America. The new projects were approved during the institution’s 192^nd Governing Board meeting in Vienna today and during the second quarter of 2025.

OPEC Fund President Abdulhamid Alkhalifa said: 

“These new approvals reflect the depth of our development partnerships, from supporting governments in strengthening public policy to advancing infrastructure that delivers clean water, energy and food security. The OPEC Fund is working across regions to enable tangible, lasting improvements of people’s lives.”

The latest approved projects include:

Public Sector Operations

Argentina: A US$25 million loan will co-finance the “Eastern San Javier Flood Mitigation and Ravine Stabilization Project” together with CAF - Development Bank of Latin America. The project will protect San Javier city and surroundings from recurrent flooding and erosion and improve resilience against severe climate events.

Botswana: A US$200 million policy-based loan (PBL) will co-finance the “Governance and Economic Resilience Support Program” alongside the African Development Bank (AfDB). The program is designed to enhance fiscal sustainability, strengthen governance frameworks and improve economic resilience.

Chad: A US$15 million loan will co-finance the “Energy Sector Support Project – PASET 2” alongside AfDB and other partners. The project is part of the World Bank’s Mission 300 initiative for the electrification of Africa and will increase access to electricity through the production of renewable energy and strengthen the distribution network to meet growing demand.

Jordan: A US$150 million PBL will support the “Jordan Growth and Competitiveness Program” to support policy and institutional reforms to create an enabling business environment and facilitate access to finance for private sector-led growth.

Kyrgyz Republic: A US$20 million loan will co-finance the “Water Supply and Sanitation Universal Access Program” with other development institutions. The construction and upgrade of water supply systems in approximately 126 rural villages and small towns in the Central Asia country will benefit around 450,000 people, develop climate-resilient infrastructure and enable water access in underserved settlements. 

Philippines: A US$150 million PBL will co-finance the “Public Financial Management Reform Program” with the Asian Development Bank. The financing will support policy programs aimed at improving efficiency in public spending, harmonizing financial policies and building institutional capacity to deliver more responsive public services.

Senegal: A US$100 million loan will co-finance the “Senegal 2024-2025 Agricultural Campaign Support Project” to contribute to the country's food security. The financing will support the purchase of peanut products for domestic processing and facilitating the supply of subsidized fertilizers, improving incomes for farmers and boosting crop yields.

Private Sector Operations:

Armenia: A syndicated loan of up to US$30 million to a private bank will increase access to finance for micro, small and medium- sized enterprises and climate-related lending in Armenia

Côte d'Ivoire: An additional €30 million tranche will increase a previously approved €50 million trade finance facility to €80 million for the procurement and exports of cocoa from the West African country.

About the OPEC Fund

The OPEC Fund for International Development (the OPEC Fund) is the only globally mandated development institution that provides financing from member countries to non-member countries exclusively. The organization works in cooperation with developing country partners and the international development community to stimulate economic growth and social progress in low- and middle-income countries around the world. The OPEC Fund was established in 1976 with a distinct purpose: to drive development, strengthen communities and empower people. Our work is people-centered, focusing on financing projects that meet essential needs, such as food, energy, infrastructure, employment (particularly relating to MSMEs), clean water and sanitation, healthcare and education. To date, the OPEC Fund has committed more than US$29 billion to development projects in over 125 countries with an estimated total project cost of more than US$200 billion. The OPEC Fund is rated AA+/Outlook Stable by Fitch and S&P Global Ratings. Our vision is a world where sustainable development is a reality for all.