OPEC Fund for International Development (OPEC Fund) strengthens partnership with African Development Bank Group during official mission to Côte d’Ivoire

 

The OPEC Fund for International Development (the OPEC Fund) (https://OPECFund.org) is undertaking an official mission to Côte d’Ivoire, led by OPEC Fund President Abdulhamid Alkhalifa, to further strengthen strategic cooperation with the African Development Bank Group (AfDB) and advance joint efforts to support sustainable development across Africa.

A highlight of the visit was the AfDB–OPEC Fund Partnership Day at AfDB headquarters, which brought together senior leadership from both institutions to reinforce collaboration and align development priorities. During the visit, President Alkhalifa and AfDB President Sidi Ould Tah held bilateral discussions and signed an amendment to the existing Memorandum of Understanding, strengthening the framework for cooperation across public and private sector operations, co-financing and knowledge exchange.

OPEC Fund President Abdulhamid Alkhalifa said: “Africa remains central to the OPEC Fund’s mission. 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. By working more closely together, we can scale solutions and deliver stronger results for people and communities across the continent.”

The OPEC Fund and the AfDB have partnered for nearly five decades, supporting some 120 projects across energy, transport, agriculture, water, health, education and financial sectors with US$1.5 billion in co-financing.  

The mission also underscores the partnership’s strong focus on implementation and results. President Alkhalifa is visiting the Atinkou Power Plant, a 390-MW combined-cycle gas facility, a flagship project co-financed with international development partners including the AfDB. The Atinkou project has strengthened Côte d’Ivoire’s baseload power supply by replacing inefficient generation capacity and providing reliable electricity for households and industry.

In addition, President Alkhalifa will participate in a high-level consultation between the Arab Coordination Group and the AfDB, aimed at enhancing coordination among development partners and supporting Africa’s long-term growth and resilience.

Distributed by APO Group on behalf of OPEC Fund.

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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$30 billion to development projects in over 125 countries with an estimated total project cost of more than US$200 billion. 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.