OPEC Fund awards US$800,000 to development innovators in Golden Jubilee year

June 24, 2026: The OPEC Fund for International Development (the OPEC Fund) has recognized three organizations advancing renewable energy, food security and climate resilience with its 2026 Annual Award for Development. Presented during the OPEC Fund Development Forum in its Golden Jubilee year, the awards carry a total value of US$800,000 and support solutions that are improving lives and creating economic opportunities across developing countries.

OPEC Fund President Abdulhamid Alkhalifa said: "Development progress depends not only on finance, but on people with the vision and determination to turn ideas into practical solutions. These three winners demonstrate how local leadership and innovation can deliver real impact for communities and help address some of the world's most pressing development challenges. We are proud to support their work."

This year's Award marked a new chapter for a program first launched in 2006. Revamped for the OPEC Fund's 50^th anniversary, the Annual Award for Development now recognizes excellence across three categories: transformational impact, innovation and youth entrepreneurship. The new format aligns more closely with the OPEC Fund's strategic priorities and highlights solutions with strong potential for replication and scale.

The Transformational Impact Award, valued at US$450,000, was presented to Fundación Plan International España for DESFERS, an initiative supporting women in the Sahel through renewable energy, skills training and access to financing. By strengthening women-led enterprises and expanding economic opportunity, DESFERS demonstrates how clean energy can drive empowerment and lasting development impact.

The Innovation for Development Award, valued at US$250,000, was presented to iFarmer Limited for its work supporting smallholder farmers in Bangladesh. Through an integrated platform, iFarmer connects farmers to finance, agricultural inputs, advisory services, weather alerts and markets. The company has supported more than 300,000 farmers and helped bring hundreds of thousands of tons of produce to market, demonstrating how technology can strengthen food systems and livelihoods.

The Youth Entrepreneurship Award, valued at US$100,000, was presented to AkoFresh. AkoFresh provides solar-powered cold storage, refrigerated transport, farmer training and market links to help rural farmers reduce post-harvest losses, improve incomes and strengthen food security. The initiative highlights the role of youth-led entrepreneurship in advancing climate resilience and inclusive rural development.

Winners were selected by an independent committee comprising Zubaida Bai, former President and CEO of Grameen Foundation; Simeon Ehui, Director General of the International Institute of Tropical Agriculture and Regional Director for Africa at CGIAR; and Michell Zappa, Founder and CEO of Envisioning. The committee assessed nominations based on impact, innovation, sustainability and potential for replication.

The awards were presented during an evening ceremony after the OPEC Fund Development Forum, which brought together leaders from government, development finance institutions, the private sector and civil society to advance solutions to shared development challenges.

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.