Development Forum turns 50 years of partnership into action

The 2026 Development Forum connected that record of partnership with a practical agenda for the future: financing resilience, accelerating digital transformation and turning commitments into impact for people and communities.

Held under the theme “A Transition That Empowers Our Tomorrow,” the Forum focused on how countries can navigate a changing development landscape while continuing to invest in growth, opportunity and essential services.

It was both a Golden Jubilee milestone and a working forum for the next chapter of development action.

At the center of the day 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.

Its initial focus on water security, education and health reflects the practical foundations of resilience: keeping essential services running before, during and after crises.

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.

Together, the two initiatives point to a common objective: helping countries respond to today’s pressures while building the systems and capabilities they need for tomorrow.

The Forum also advanced a wider package of financing agreements, partnerships and development programs expected to exceed US$2.8 billion.

These commitments will support economic reform, climate resilience, social protection, transport connectivity, trade finance, SMEs and critical infrastructure across partner countries.

New financing signed in Vienna included support for Armenia, Azerbaijan, East Africa, Mauritania and Nicaragua.

In Azerbaijan, the OPEC Fund provided its first local currency loan through a US$20 million-equivalent financing agreement with Bank Respublika to support local businesses and SMEs.

Other agreements will support reforms and trade finance in Armenia, SMEs and critical infrastructure in East Africa, social protection and country partnership priorities in Mauritania, and road connectivity in Nicaragua.

The Forum also expanded the OPEC Fund’s network of strategic partnerships.

New cooperation agreements were signed with the Digital Cooperation Organization, Gavi, the Islamic Organization for Food Security, the Middle East Green Initiative Secretariat and Saudi Eksab.

The 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 meetings of the heads of institutions of the Arab Coordination Group.

It also 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 closed with a clear message for the OPEC Fund’s next chapter.

After 50 years of partnership, development finance must continue to evolve: faster, more responsive and more connected to country priorities.

But its purpose remains unchanged: to strengthen systems, expand opportunity and improve lives.