đź“… 20 June 2023
Vienna, Austria
The next OPEC Fund Development Forum will take place on June 20, 2023, in Vienna and build on the success of the inaugural event in June 2022. Expanding on the overarching theme “Driving Resilience & Equity” the conference will discuss urgent and crucial development challenges while providing a platform for networking and knowledge exchange between decision-makers and representatives of international organizations, businesses, and civil society.
Delivering concrete results
The first OPEC Fund Development Forum in June 2022 attracted more than 250 government and business representatives as well as senior leaders of international development organizations to join the event in Vienna. Delegates used the gathering to translate the spirit of cooperation in order to find joint solutions to deliver concrete results.
- The OPEC Fund, the UN Capital Development Fund, and Sustainable Energy for All announced a new Climate Finance and Energy Innovation Hub. Designed as a global platform, this hub will harness the power of financial innovation to source, unlock, de-risk, and scale up investments in energy access and transition. Recognizing the crucial role of clean cooking the OPEC Fund is earmarking US$100 million in support of relevant projects in DRC, Madagascar, Malawi, and Rwanda as part of the initiative.
- The International Renewable Energy Agency and the OPEC Fund signed a Memorandum of Understanding to facilitate access to innovative financing solutions, unlock investment, and support project development to advance renewable energy investment and enable access to sustainable finance in emerging and developing economies.
The OPEC Fund and the regional South American development bank FONPLATA signed a “Cooperation Agreement” to broaden and deepen the partnership.
High-profile panelists from all over the world will come together to drive joint action and to network with senior representatives of governments, international organizations, and the business community. This year’s Development Forum is taking place at a critical juncture: the midway mark for the 2030 Agenda and the lead-up to the UN Climate Change Conference COP28, which is chaired this year by the member country, the United Arab Emirates.
It is also a watershed moment for the development community at large, with the COVID-19 pandemic and the war in Ukraine stretching the capacities of governments and development actors alike, to the point that questions are being raised about the efficiency and effectiveness of long-standing development approaches and business models.
