The OPEC Fund for International Development has approved more than $284 million for sustainable development projects across the world, with a majority of the projects going to support micro-, small- and medium-sized enterprises.
The new projects will also help partner countries to recover from the effects of COVID-19.
“Our funding through sovereign and non-sovereign operations confirms our commitment to respond to the changing needs in developing countries and to advance the Sustainable Development Goals,” said Abdulhamid Alkhalifa, fund director-general of OPEC. “We work together with governments, development finance institutions and the private sector to deploy much needed financing to support economies in challenging times.”
The OPEC Fund’s new financing will support several public-sector operations, including $100 million to support Moroccan government’s programmatic series of reforms aimed at mitigating the socioeconomic impact of the COVID-19 p