A steady partner in uncertain times

As the world economy shows signs of strain, the OPEC Fund came to Bangkok with a clear message: partner countries can count on it when needs are complex and urgent.

The 2026 World Bank/IMF Annual Meetings opened under a cloud of global crises. IMF Managing Director Kristalina Georgieva warned that the world economy remains resilient, but that “this resilience is reaching its limits”, with energy and fiscal buffers both being depleted. She urged policymakers to “protect people, not prices”.

The IMF’s latest World Economic Outlook projects global growth to slow to 3.1 percent in 2026 before recovering to 3.4 percent in 2027. Global headline inflation is expected to rise to 4.7 percent this year, easing to 4.1 percent in 2027. Energy-importing economies outside the technology value chain face the hardest outlook, and risks remain tilted to the downside.

Against this backdrop, OPEC Fund President Abdulhamid Alkhalifa led the Fund’s delegation with a focus on practical support. “We are here to demonstrate what the OPEC Fund can do for partner countries when needs are complex and urgent,” he said. “Our recent E-STAR facility serves as a prime example that we are not a fair-weather friend, but ready to take countercyclical action to address major challenges and create new opportunities.”

That commitment was reflected in a series of signings. The President concluded a new Country Partnership Strategy with Côte d’Ivoire for 2026-2029, with an envelope of up to US$500 million. He also signed a €57 million loan for a project to strengthen food security in Senegal, alongside co-financing agreements for Lesotho and the Kyrgyz Republic.

Partnerships were equally central to the week. The President met the heads of the African Development Bank, Commercial Bank of Dubai, Central American Bank for Economic Integration, Development and Investment Bank of Türkiye, International Finance Corporation, International Fund for Agricultural Development, International Islamic Trade Finance Corporation, Proparco and the Turkic Investment Fund. He also held bilateral talks with government delegations from Benin, China, Eswatini, Guinea, Indonesia, Jordan, Oman, Pakistan, Sudan and Yemen.

Vice President Shaimaa Al-Sheiby spoke at the V20 Ministerial Dialogue, a High-Level Event on the Chao Phraya Flood Risk Management Masterplan, and a High-Level Event on Water co-convened by the UAE and the World Bank Group in partnership with the Children’s Investment Fund Foundation.

“Water security is economic security,” she said. “Yet meeting the growing global water challenge demands a shift from individual projects toward comprehensive national and regional investment programmes.”

The OPEC Fund joined the World Bank’s Water Forward initiative in April, pledging an additional US$1 billion in related financing. It will also take part in the UN Water Conference in Abu Dhabi in December.