The OPEC Fund for International Development has reinforced its long-standing partnership with the African Development Bank Group during a high-level official mission to Côte d’Ivoire, signaling renewed momentum for sustainable development financing across Africa.
Led by OPEC Fund President Abdulhamid Alkhalifa, the visit focused on expanding strategic cooperation with the AfDB while accelerating joint investments in critical sectors that drive economic growth, infrastructure expansion, and social inclusion on the continent.
At the center of the mission was the AfDB–OPEC Fund Partnership Day, hosted at the Bank’s headquarters in Abidjan. The gathering brought together senior leaders from both institutions to align development priorities and strengthen operational coordination. During the engagement, President Alkhalifa and AfDB President Sidi Ould Tah held bilateral talks and signed an amendment to their existing Memorandum of Understanding, broadening collaboration across public and private sector financing, co-investment frameworks, and knowledge sharing.
Speaking during the visit, Alkhalifa reaffirmed Africa’s strategic importance to the institution’s global mandate.
“Africa remains central to the OPEC Fund’s mission,” he said. “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 strengthened agreement builds on nearly five decades of joint work between both institutions. Over that period, the OPEC Fund and the AfDB have co-financed about 120 projects across energy, transport, agriculture, water, health, education, and financial services, mobilizing approximately US$1.5 billion in combined funding.
Beyond policy discussions, the mission highlighted a growing emphasis on tangible results. As part of the program, President Alkhalifa visited the Atinkou Power Plant, a 390-megawatt combined-cycle gas facility developed with support from international partners, including the AfDB.
The project has already reshaped Côte d’Ivoire’s energy landscape. It replaced inefficient generation capacity while strengthening baseload supply for households and industries, improving reliability and supporting industrial productivity. In turn, the plant has become one of the country’s flagship energy investments and a model for future regional power projects.
In addition, the OPEC Fund President is participating in a high-level consultation between the Arab Coordination Group and the African Development Bank. The meeting aims to deepen coordination among development finance institutions and reinforce collective support for Africa’s long-term economic resilience, climate adaptation, and infrastructure needs.
Founded in 1976, the OPEC Fund for International Development remains the only globally mandated development institution that provides financing exclusively from member countries to non-member countries. To date, it has committed more than US$30 billion to projects in over 125 countries, supporting initiatives in energy, food security, water and sanitation, healthcare, education, infrastructure, and MSME development.
With its latest engagement in Côte d’Ivoire, the institution is positioning its partnership with the African Development Bank not only as a financing alliance but also as a strategic platform for scaling impact, mobilizing capital, and accelerating Africa’s development agenda at a time when sustainable infrastructure and inclusive growth have become more urgent than ever.
