The OPEC Fund for International Development has moved to deepen its long-standing partnership with the African Development Bank Group, as it seeks to accelerate the delivery of sustainable development projects across Africa.
An official mission to Côte d’Ivoire, led by OPEC Fund President Abdulhamid Alkhalifa, culminated in high-level talks at the AfDB’s headquarters and the signing of an amendment to the institutions’ existing Memorandum of Understanding. The revised agreement strengthens cooperation across public and private sector operations, expands co-financing arrangements and enhances knowledge-sharing between the two development lenders.
The visit included an AfDB–OPEC Fund Partnership Day, bringing together senior leadership from both organisations to align priorities and reinforce collaboration at a time when development finance institutions are under increasing pressure to deliver tangible results on the ground.
Mr Alkhalifa said Africa remained at the core of the OPEC Fund’s mission. “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,” he said. “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 worked together for almost five decades, jointly supporting around 120 projects across sectors including energy, transport, agriculture, water, health, education and financial services. Total co-financing between the two institutions stands at approximately $1.5bn, reflecting one of the longest-running development partnerships focused on the African continent.
The Côte d’Ivoire mission also underscored the emphasis both institutions are placing on implementation and measurable impact. As part of the visit, Mr Alkhalifa toured the Atinkou Power Plant, a 390-megawatt combined-cycle gas facility co-financed with international development partners, including the AfDB. The project has played a central role in strengthening Côte d’Ivoire’s baseload electricity supply, replacing inefficient generation capacity and improving the reliability of power for households and industry.
Beyond individual projects, the visit forms part of a broader effort to improve coordination among development financiers operating in Africa. Mr Alkhalifa is also taking part in a high-level consultation between the Arab Coordination Group and the AfDB, aimed at aligning funding strategies and reinforcing support for Africa’s long-term growth, resilience and energy transition.
With infrastructure gaps, climate pressures and financing constraints continuing to weigh on many African economies, the strengthened OPEC Fund–AfDB partnership signals a push towards more coordinated, large-scale interventions designed to deliver lasting economic and social impact.