OPEC Fund and AfDB strengthen partnership for African development

The OPEC Fund for International Development (OPEC Fund), led by President Abdulhamid Alkhalifa, has concluded a strategic official mission to Côte d’Ivoire aimed at deepening collaboration with the African Development Bank Group (AfDB) and accelerating joint initiatives for sustainable development across Africa.

The visit featured the AfDB–OPEC Fund Partnership Day at AfDB headquarters, where senior leaders from both institutions convened to align priorities and reinforce their long-standing alliance.

In a key development, President Alkhalifa and AfDB President Sidi Ould Tah held bilateral talks and signed an amendment to their existing Memorandum of Understanding. The updated agreement bolsters cooperation in public and private sector operations, co-financing projects, and knowledge sharing to deliver greater impact.

“Africa remains central to the OPEC Fund’s mission,” President Alkhalifa stated during the engagement. “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.”

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The two institutions have collaborated for nearly five decades, jointly financing around 120 projects in critical sectors including energy, transport, agriculture, water, health, education, and finance, with a combined co-financing commitment of approximately US$1.5 billion.

A major focus of the mission was on-the-ground implementation. President Alkhalifa toured the Atinkou Power Plant, a 390-MW combined-cycle gas facility that stands as a flagship co-financed project involving the AfDB and other international partners.

The initiative has enhanced Côte d’Ivoire’s baseload power supply by replacing outdated, inefficient generation capacity and ensuring reliable electricity access for households and industries, contributing to energy security and economic growth.

The visit also included President Alkhalifa’s participation in a high-level consultation between the Arab Coordination Group and the AfDB. The discussions centered on improving coordination among development partners to bolster Africa’s long-term growth, resilience, and economic transformation.