OPEC Fund deepens AfDB ties to advance sustainable development goals

The OPEC Fund for International Development has moved to strengthen its partnership with the African Development Bank Group (AfDB) during an official mission to Côte d’Ivoire led by its president, Abdulhamid Alkhalifa, according to Emirates News Agency (WAM).

The visit aimed to reinforce strategic cooperation between the two institutions and advance joint efforts to support sustainable development across Africa.

A central feature of the mission was the AfDB–OPEC Fund Partnership Day, held at the headquarters of the African Development Bank Group, which brought together senior leadership from both sides.

Opec funding in Africa

During the visit, Alkhalifa held bilateral talks with Sidi Ould Tah, president of the African Development Bank Group. The two leaders signed an amendment to the existing memorandum of understanding between their institutions, strengthening the framework for cooperation.

The amended agreement is intended to reinforce collaboration across public and private sector operations, co-financing activities and knowledge exchange, in line with shared development priorities.

“Africa remains central to the OPEC Fund’s mission,” Alkhalifa said. “Our partnership with the AfDB continues to evolve into a more strategic and impact-driven collaboration, focused on accelerating delivery and supporting country-led development priorities.”

The OPEC Fund and the African Development Bank Group have partnered for nearly five decades, supporting around 120 projects across sectors including energy, transport, agriculture, water, health, education and financial services.

Total co-financing provided through these joint efforts amounts to approximately $1.5 billion.

The OPEC Fund said the visit underlined its commitment to Africa and to working with multilateral partners to support sustainable development across the continent.