OPEC Fund advances more than US$2.4 billion in financing and development support for inclusive and climate-resilient growth

Highlights

• Total financing and development support advanced during the period exceeds US$2.4 billion
• US$1.5 billion E-STAR initiative launched to strengthen economic resilience in partner countries
• First OPEC Fund Results-Based Lending operation approved in Mauritania
• US$250 million approved for the Istanbul North Rail Crossing Project in Türkiye
• Financing approved for one of Central Asia's largest AI-ready green data centers in Uzbekistan

June 24, 2026: The Governors of the OPEC Fund for International Development (the OPEC Fund) met for their 196^th meeting today and approved new development projects spanning transport connectivity, healthcare, water security, climate resilience, social protection and private sector development across Africa, Asia and the Pacific, Latin America and the Caribbean.

Together with project approvals during the second quarter of 2026 and the launch of the US$1.5 billion Economic Stability, Trade and Resilience Initiative (E-STAR), the OPEC Fund has advanced more than US$2.4 billion in financing and development support since its previous Governing Board meeting.

OPEC Fund President Abdulhamid Alkhalifa said: "As we mark our 50^th anniversary year, these approvals reflect our commitment to helping partner countries invest in resilience, opportunity and long-term growth. From healthcare and water security to transport and digital infrastructure, we are supporting projects that improve lives today while strengthening foundations for the future."

The projects will support social protection, infrastructure, economic governance, small businesses and food security. E-STAR will provide rapid, demand-driven financing over the period 2026-2028 to help partner countries maintain essential services, secure critical imports and strengthen resilience to energy, commodity and trade disruptions.

The new approvals include the following public and private sector projects and grants:

Public Sector

Armenia: An €80 million loan to the government will support the Armenia Economic Transformation Program, which aims to improve the country's business environment, facilitate investment and trade and enable greener and more resilient growth.

Brazil: A US$55 million loan will be extended to the municipality of Joinsville in southern Brazil to help finance a series of urban renewal projects benefitting the city's 620,000 inhabitants. A US$350,000 grant will be also be extended to the municipality for additional project studies.

Colombia: A US$150 million loan will help support the Climate Action, Sustainability and Biodiversity Development Program to support a series of reforms related to disaster risk management, resilient agriculture and sustainable finance.

DR Congo: A two-tranche US$69 million loan, complemented by a US$975,000 grant, will support the establishment of the Kinshasa Cancer Center, the country's first public comprehensive cancer treatment facility, expanding access to life-saving cancer care for thousands of patients and reducing the need to seek treatment abroad.

Kenya: A US$75 million loan will partially finance the Sustainability-Linked Financing for Climate Resilience Project, supporting Kenya's climate commitments through investments in forest conservation, ecosystem restoration and sustainable land management, while expanding access to electricity and clean cooking solutions.

Mauritania: A US$15 million loan will support the Mauritania Resilience and Productive Safety Nets Program, strengthening the efficiency, responsiveness and productive focus of social protection systems for vulnerable households. This operation also marks the first Results-Based Lending financed by the OPEC Fund.

Sri Lanka: Two loans totaling US$60 million will help finance stage two of the Mahaweli Water Security Investment Program, which will construct irrigation systems to collectively irrigate about 20,000 hectares of farmland.

Türkiye: A US$250 million loan, the first of an up-to-US$500 million tranche finance facility, will help fund the Istanbul North Rail Crossing Project, which aims to strengthen Türkiye's role as a regional logistics hub through railway infrastructure along the Trans-Caspian Middle Corridor.

Private Sector

Armenia: A syndicated term loan of up to US$35 million extended to a private bank will provide financing to micro, small and medium-sized enterprises, including those owned by women, as well as climate finance projects in the Caucasus country.

Ghana: An up to US$20 million participation in a secured revolving trade facility for one of the cocoa traders/processors.

Honduras: A US$50 million loan to a private bank will support its lending to micro, small and medium-sized enterprises, including those owned by women, as well as climate-related financing in the country.

Paraguay: A US$20 million loan to a private bank will support on-lending to agricultural and livestock businesses, including small and medium-sized enterprises in agriculture

Uzbekistan: A US$40 million loan will support the development and operation of the DataVolt IT Park Data Center in Tashkent, a 12-megawatt green data center that will become one of Central Asia's largest AI-ready data centers, strengthening the region's digital infrastructure and data-processing capacity.

About the OPEC Fund

The OPEC Fund for International Development (the OPEC Fund) is the only globally mandated development institution that provides financing from member countries to non-member countries exclusively. The organization works in cooperation with developing country partners and the international development community to stimulate economic growth and social progress in low- and middle-income countries around the world. The OPEC Fund was established in 1976 with a distinct purpose: to drive development, strengthen communities and empower people. Our work is people-centered, focusing on financing projects that meet essential needs, such as food, energy, infrastructure, employment (particularly relating to MSMEs), clean water and sanitation, healthcare and education. To date, the OPEC Fund has committed more than US$32 billion to development projects in over 125 countries. These projects represent a total value exceeding US$240 billion, equivalent to approximately US$7.50 mobilized for every US$1 committed by the OPEC Fund. The OPEC Fund is rated AA+/Outlook Stable by Fitch and AA+, Outlook Stable by S&P. Our vision is a world where sustainable development is a reality for all.