Development Forum 2026

The OPEC Fund marked its 50th anniversary in Vienna with the 2026 Development Forum, bringing together more than 600 leaders and partners from governments, development finance institutions, the private sector and civil society.

Held under the theme “A Transition That Empowers Our Tomorrow,” the Forum connected five decades of development cooperation with a practical agenda for the future: financing resilience, accelerating digital transformation and turning commitments into impact for people and communities.

A central outcome of the Forum was the launch of the Vulnerability to Viability Compact (V2V), developed by the OPEC Fund and the Government of Barbados, as Chair of the Climate Vulnerable Forum and its V20 Finance Ministers. The Compact is designed to help 74 climate-vulnerable economies access more affordable, predictable and long-term development finance, with an initial focus on water security, education and health.

The Forum also unveiled the OPEC Fund’s US$1.5 billion Digital Transformation Action Plan, which will guide investments in digital infrastructure, systems and applications in partner countries through 2030. The plan establishes digital transformation as the institution’s third cross-cutting priority, alongside climate action and food security.

In addition, the Forum advanced a wider package of financing agreements, partnerships and development programs expected to exceed US$2.8 billion. New financing signed in Vienna included support for Armenia, Azerbaijan, East Africa, Mauritania and Nicaragua, covering economic reform, trade finance, SMEs, social protection, transport connectivity and critical infrastructure.

The OPEC Fund also expanded its network of strategic partnerships through new cooperation agreements with the Digital Cooperation Organization, Gavi, the Islamic Organization for Food Security, the Middle East Green Initiative Secretariat and Saudi Eksab. These partnerships will support collaboration in digital transformation, health financing and immunization, food and water security, climate action and sustainable investment.

Alongside the Forum, the OPEC Fund hosted the annual meeting of the heads of institutions of the Arab Coordination Group and convened high-level roundtables with regional and international partners, including the V20 Group, CAF - Development Bank of Latin America and the Caribbean, the African Development Bank and the Inter-American Development Bank.

The Forum also featured the 2026 Annual Award for Development, presented in a new format for the OPEC Fund’s Golden Jubilee year. The Award, first launched in 2006, now recognizes excellence across three categories and carries a total value of US$800,000.

The Transformational Impact Award, valued at US$450,000, was presented to Fundación Plan International España for DESFERS, an initiative supporting women in the Sahel through renewable energy, skills training and access to financing.

The Innovation for Development Award, valued at US$250,000, was presented to iFarmer Limited for its work connecting smallholder farmers in Bangladesh to finance, agricultural inputs, advisory services, weather alerts and markets.

The Youth Entrepreneurship Award, valued at US$100,000, was presented to AkoFresh for its solar-powered cold storage, refrigerated transport, farmer training and market links, helping rural farmers reduce post-harvest losses and strengthen food security.

Together, the Forum’s announcements, agreements and awards reflected the OPEC Fund’s next chapter: building on 50 years of partnership to deliver faster, more responsive and more practical development action. Its purpose remains unchanged: strengthening systems, expanding opportunity and improving lives.