OPEC Fund commits up to $2bn with African Development Fund through 2030

The OPEC Fund for International Development has announced up to $2bn in co-financing with the African Development Fund for the period 2026–2030, reaffirming its long-standing commitment to Africa and to concessional financing for the continent’s most vulnerable countries.

The announcement was made by Abdulhamid Alkhalifa, President of the OPEC Fund, during the 17th replenishment session of the African Development Fund, the concessional financing window of the African Development Bank Group.

President Alkhalifa said: “Africa remains central to the OPEC Fund’s development mandate, and we are firmly committed to delivering affordable, long-term financing where it is needed most across the continent.

Opec funding in Africa

“By joining forces through the ADF, we are investing in energy access, food security, climate resilience and human capital – foundations that are critical for sustainable growth and stability across the continent.”

Africa accounts for the largest regional share of the Fund’s portfolio. Since its establishment in 1976, the institution has approved more than $14.6bn in financing for African countries.

Under its Strategic Framework 2030, the Fund is scaling up its operations, with Africa remaining a core focus of engagement.