Development News 2026 Q2

Conserving biodiversity in Colombia 

A US$150 million OPEC Fund loan will promote territorial development in Colombia in the areas of institutional strengthening, environmental governance and biodiversity protection. 

This policy-based loan will enhance capacity across all government levels through a series of reforms. 

The primary beneficiaries of this program will be households and local communities predominantly located in rural and coastal areas, including indigenous territories in departments like Chocó, La Guajira and the archipelago of San Andrés and Providencia. These households often experience higher levels of poverty, limited access to essential services and lower income levels. The program’s goals are the creation of improved infrastructure, better access to services, enhanced economic opportunities through sustainable practices and increased resilience to environmental challenges. 

Providing essential social services in Burkina Faso 

A US$30 million loan to Burkina Faso will support essential health and education services through a free healthcare program, hospital services and vaccines, along with training and learning materials. 

Approximately 1 million children under five years old are expected to be immunized under the program in the West African country. More than 90,000 teachers and 750,000 students are also expected to benefit. 

Promoting SMEs in the Democratic Republic of the Congo 

The OPEC Fund signed its first private sector operation in the Democratic Republic of the Congo (DRC), providing a US$20 million loan to Rawbank, the country’s leading financial institution. 

The financing will expand access to credit for small and medium-sized enterprises (SMEs), strengthen financial inclusion and accelerate sustainable private sector growth. 

This will enable Rawbank to expand lending to SMEs and strategic corporates in key sectors such as telecommunications, agriculture and fast-moving consumer goods. It will also strengthen the bank’s capacity in climate finance and agro-finance, while supporting women-led businesses and advancing financial inclusion through targeted technical assistance. 

The OPEC Fund’s loan forms part of a US$265 million financing package arranged by the International Finance Corporation (IFC), the World Bank’s private sector arm, supported by multiple lenders. 

Improving clean water and sanitation in Malawi 

A US$27 million OPEC Fund loan will expand access to safe and reliable drinking water in Malawi and improve public health through the construction of an intake weir, a pump station, a water treatment plant, a waste management facility and transmission pipelines. 

The project will have tangible health benefits such as reducing the incidence of waterborne diseases, for instance diarrhea and cholera, which currently cause high mortality and morbidity, especially among children. The reduction of government expenditure on health-related costs will free resources for other development priorities. 

Stimulating the cocoa supply chain in Côte d’Ivoire 

The OPEC Fund is providing €80 million in financing to support an IFC-led cocoa pre-export finance facility for Sucden Côte d’Ivoire.

The financing will cover the whole supply chain from sourcing of the cocoa beans to the final payments of the receivables by the end buyers. Sucden is an independent market leader in soft commodities and trading worldwide, combining global know-how with local expertise. 

Financing the Middle East’s largest polysilicon plant in Oman 

Alongside partners like IFC, the OPEC Fund is financing the construction of the Middle East’s largest polysilicon facility. 

Located in Oman and built by the solar manufacturer United Solar, the plant will support the production of up to 40 GW of solar modules annually. The OPEC Fund’s US$50 million loan will help create nearly 3,000 jobs. The financing reflects the OPEC Fund’s commitment to supporting low-carbon industrial growth and to strengthening renewable energy value chains. The project advances Oman’s economic diversification, while strengthening local manufacturing capacity and job creation. 

Once complete, the US$1.6 billion plant will be the Middle East’s largest polysilicon manufacturing facility with a planned annual production capacity of 100,000 tonnes. 

Accelerating transportation in Nicaragua 

A US$25 million loan will finance the construction of a 4.4 km four-lane urban roadway to improve connectivity in the Managua Metropolitan District. 

The project links the Masaya Highway with the Las Jagüitas intersection, directly benefiting more than 96,000 residents and indirectly improving mobility for over 1.5 million people. The roadway will reduce travel times, lower transport costs and facilitate better access to healthcare, education and employment. The new corridor will also support agricultural livelihoods by easing market access, while strengthening social inclusion through safer infrastructure, dedicated pedestrian and cycling facilities, as well as improved emergency response accessibility. 

Bolstering healthcare in Grenada 

The OPEC Fund is providing US$30 million in financing for the construction of a 250-bed climate-resilient academic hospital in Grenada. 

Co-financed alongside the Kuwait Fund for Arab Economic Development and the Saudi Fund for Development, the project will replace the aging General Hospital in the capital city St. George’s as well as improving access to specialized care, reducing overseas referrals and enhancing the resilience of the country’s health system. The new hospital will serve the island nation’s population of 125,000 people. 

Reinforcing climate change resilience in the Solomon Islands 

US$15 million in OPEC Fund financing will improve fiscal management and private sector development of the Solomon Islands as well as enhance resilience to climate change, natural disasters and health emergencies. 

This policy-based loan will support many reforms across this Small Island Developing State (SIDS) including reducing energy costs, facilitating investment, improving access to private sector credit and strengthening resilience to climate change, natural disasters and health emergencies by enhancing disaster risk management. 

Assisting MSMEs and agribusiness in Bangladesh 

A US$30 million OPEC Fund loan to Prime Bank in Bangladesh, a private commercial bank, will expand access to trade finance for micro, small and medium-sized enterprises and agribusinesses. 

The financing will help strengthen Bangladesh’s export-driven economy by supporting firms that face persistent gaps in affordable and reliable trade funding. The new loan will scale up Prime Bank’s capacity to finance imports and exports, while providing working capital for agribusinesses supplying essential food and agricultural products. 

Optimizing public financial management in Eswatini 

A US$50 million OPEC Fund loan will improve fiscal policy and public financial management, enhance private sector competitiveness, while improving energy security and climate resilience in Eswatini. 

This policy-based loan will incentivize better fiscal and public financial management which in turn is expected to improve service delivery and public welfare. The reforms are particularly relevant, as nearly 60 percent of the population is exposed to climate-related shocks such as heat, flood, drought or cyclone. 

Expanding healthcare in Fiji 

A US$30 million loan to the Government of Fiji will support a major initiative to modernize health services and improve access to quality care across the South Pacific island nation. 

The project will modernize and expand access to quality health services nationwide, with a strong focus on the prevention, early detection and treatment of noncommunicable diseases. “Networks of Care” will also strengthen Fiji’s health system with improved service delivery and greater resilience to climate and health shocks. 

The project is co-financed with the World Bank Group and the Asian Development Bank to bolster health systems across Pacific SIDS. 

Empowering small and medium-sized enterprises in Kosovo 

An OPEC Fund €15 million loan to Raiffeisen Bank Kosovo (RBKO), the country’s largest bank, will strengthen access to finance for SMEs in the Western Balkan country. 

The OPEC Fund’s first private sector loan in Kosovo will enable RBKO to extend longer-tenor loans to local companies, supporting investment, business expansion and job creation. The operation will also help address persistent credit gaps for small businesses, including women-owned enterprises, while marking the OPEC Fund’s first private sector loan in the country. 

Developing livestock in Sierra Leone 

An OPEC Fund US$30 million loan and US$2 million grant will support Sierra Leone’s new Livestock and Livelihoods Development Program. 

It aims to improve food security, strengthen rural livelihoods and expand climate-resilient agriculture across eight national districts, benefiting more than 370,000 people. 

Co-financed with the International Fund for Agricultural Development (IFAD), the Islamic Development Bank (IsDB) and the Government of Sierra Leone, the US$107.5 million program will also deliver clean cooking solutions to reduce deforestation and health risks. 

Enriching economic competitiveness in Niger 

US$20 million in OPEC Fund financing will support energy sector reforms, promote private sector development and improve economic governance transparency in Niger in West Africa. 

Co-financed alongside the African Development Bank (AfDB), the program expands access to electricity, especially in rural areas, while supporting youth entrepreneurship and private sector growth through industrial zone development and financial reforms, helping to create jobs and reduce poverty. Gender equality and support for vulnerable populations, including internally displaced persons, are part of the program’s policy reforms, ensuring that social programs are better targeted and more impactful. 

Upgrading clean energy development and energy security in Egypt 

The OPEC Fund is providing a US$37 million loan to Egypt’s Abydos II solar photovoltaic project, one of the country’s largest clean energy projects to date and recently awarded the “Africa Deal of the Year” 2025 PFI Award. Located in the Aswan Governorate in Upper Egypt, the facility comprises a 1,000 MW solar photovoltaic plant integrated with a 600 MWh battery energy storage system and will supply more than 3 million MWh of clean electricity to the national grid. The OPEC Fund is a parallel lender in a US$571.8 million financing package, arranged by IFC, the World Bank's private sector arm.