WORLD - The OPEC Fund for International Development has approved a new package of development projects covering transport, healthcare, water security, climate resilience, social protection and private sector growth across Africa, Asia and the Pacific, and Latin America and the Caribbean.
The funding was endorsed during the institution’s 196th Governing Board meeting, reflecting the organization’s continued focus on supporting sustainable economic development in partner countries.
Combined with projects approved during the second quarter of 2026 and the launch of its $1.5 billion Economic Stability, Trade and Resilience Initiative (E-STAR), the OPEC Fund has now committed more than $2.4 billion in financing and development support since its previous board meeting.
OPEC Fund President Abdulhamid Alkhalifa said the approvals demonstrate the institution’s commitment to helping partner countries strengthen resilience, expand opportunities and promote long-term economic growth as the organization marks its 50th anniversary.
He added that investments spanning healthcare, water security, transport and digital infrastructure are designed to improve people’s lives while laying stronger foundations for future development.
Supporting resilience
The newly approved projects will support a broad range of sectors, including social protection, infrastructure development, economic governance, food security and financing for small businesses.
The OPEC Fund also highlighted the role of its recently launched E-STAR initiative, which will provide rapid, demand-driven financing between 2026 and 2028 to help partner countries maintain essential public services, secure critical imports and strengthen resilience against energy, commodity and trade disruptions.
The initiative is intended to provide timely financial support during periods of economic uncertainty while helping governments respond to external shocks and reinforce long-term development goals. The latest approvals reinforce the OPEC Fund’s broader strategy of promoting inclusive growth, sustainable infrastructure and economic stability across developing economies worldwide.
![The UAE announced its departure from OPEC on April 28, 2026, effective May 1. [File: Ramzi Boudina/Reuters]](/_next/image?url=https%3A%2F%2Fenmaeya-production.s3.eu-west-1.amazonaws.com%2Fglobal%2Fimage%2FIfIDuGHfHZuFB9FPttkZZgYm_1777457219464_ZcgKf.webp&w=3840&q=25)
