OPEC Fund approves $255mln for global development operations The OPEC Fund for International Development (the OPEC Fund) has approved US$255 million for development operations across the world at the organization’s 174th Session of the Governing Board, held virtually. OPEC Fund Director-General Dr. Abdulhamid Alkhalifa said that the funding, approved across three of the OPEC Fund’s financing windows (public, private and trade finance), demonstrates the organization’s commitment to the Sustainable Development Goals and its continued determination to support partner countries amid a challenging global environment. “The OPEC Fund’s new strategy, launched in 2019 and fully backed by our member countries, has enabled us to be more agile and responsive to complex and fast-changing development needs,” Dr. Alkhalifa said, referring to the organization’s Strategic Framework, which focuses on financial sustainability and improving the development impact of the OPEC Fund’s financing.