The OPEC Fund for International Development (OPEC Fund) has approved more than US$300 million in new financing in the first quarter of 2023, reflecting the institution’s commitment to fulfilling its Climate Action Plan. Three out of the four projects approved by the OPEC Fund’s Governing Board directly support climate finance.
These efforts will aid our partners in Africa, Asia and Latin America to enhance their climate policies while boosting resilience to climate change.
A €50 million loan will support policies for increasing climate resilience and mitigation through a series of reforms concerning energy efficiency, air quality standards and to finance environmental impact assessments.
