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The OPEC Fund for International Development (OPEC Fund) approves close to US$1 billion in new development financing

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2 years ago

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OPEC

These projects will benefit countries across the globe and aim to bolster infrastructure, food security, renewable energy, economic resilience and governance in partner countries

VIENNA, Austria, December 10, 2024/APO Group/ — 

The OPEC Fund for International Development (OPEC Fund) (www.OPECFund.org) has approved close to US$1 billion in new development financing over the last quarter of 2024, including during its 190th Governing Board meeting in Vienna today. These projects will benefit countries across the globe and aim to bolster infrastructure, food security, renewable energy, economic resilience and governance in partner countries.

OPEC Fund President Abdulhamid Alkhalifa said: “2024 has been a landmark year for the OPEC Fund, marked by a significant increase in project approvals and commitments across key sectors, helping to build resilience, develop sustainable infrastructure and address climate change. Our latest round of financing reflects the OPEC Fund’s ongoing dedication to delivering impactful solutions that drive meaningful change for millions of people. We remain focused on working with partners worldwide to tackle today’s challenges and build a better tomorrow.”

The OPEC Fund most recently approved projects since September 2024 (in alphabetical order):

Public Sector Operations:

Bangladesh: A €96.1 million loan will co-finance the Strengthening Economic Management and Governance Program with the Asian Development Bank (ADB). This initiative supports the government’s reform agenda to strengthen private sector development, trade logistics and governance. It aims to improve domestic resource mobilization, enhance public sector transparency and promote the diversification of exports.

Burkina Faso: A US$30 million loan will support the Human Capital Protection Project, which aims to provide 17 million free healthcare consultations, immunize one million children under age five and improve education for 91,000 teachers and 748,000 students. The initiative is co-financed with the World Bank.

Chad: A US$16 million loan will promote the Rice Farming Development Project in Chari-Logone, co-financed with BADEA. The project will benefit 2,000 households, with half the beneficiaries being women and youth, by enhancing agricultural productivity, rural infrastructure and agribusiness practices in selected provinces.

Comoros: A US$17.5 million loan will support the First Fiscal Management and Resilient Growth Development Policy. This program aims to improve debt management, enhance disaster resilience and strengthen the country’s economic stability and governance frameworks.

El Salvador: A US$30 million loan will co-finance the Rural Adelante 2.0 Program in partnership with the International Fund for Agricultural Development (IFAD). The program will support 74,000 smallholder farmers and rural families by improving agricultural practices, market access and climate resilience, ultimately boosting incomes and food security.

The Gambia: A US$20 million loan will fund the Rural Infrastructure Development Project (Phase 2), which will improve access to agricultural markets through enhanced rural infrastructure. The project will benefit local farmers and communities with interventions in agriculture value chains and improved connectivity to markets.

Honduras: A US$50 million loan will support the Women’s Empowerment and Social Inclusion Program promoting gender equality and empowering marginalized groups, including indigenous and Afro-descendant populations.

Kenya: A €60 million loan will co-finance the Economic Inclusion and Green Recovery Support Program with the African Development Bank. This initiative aims to create more inclusive and competitive markets, improve governance frameworks and promote green economic recovery.

Malawi: A US$20 million loan will co-finance the Mangochi–Mwanjati–Makanjira Road Project (Phase I). This project will benefit some 300,000 people by enhancing regional connectivity, reducing travel times and supporting economic development.

Mauritania: A US$40 million loan will help fund the Mauritania-Mali Power Interconnection and Related Solar Power Plants Development Project, alongside multiple development partners. The project will connect 80,000 households to electricity, promote renewable energy and reduce greenhouse gas emissions.

Our latest round of financing reflects the OPEC Fund’s ongoing dedication to delivering impactful solutions that drive meaningful change for millions of people

Montenegro: A €50 million loan, the OPEC Fund’s first engagement in the South-East European country, will support the Resilient Fiscal and Sustainable Development Program. The project focuses on improving fiscal sustainability, energy efficiency and waste management, while reducing greenhouse gas emissions.

Senegal: A US$60 million loan will fund the Senegal Food Sovereignty Strategy Support Project to enhance agricultural productivity, climate resilience and market access for 220,000 households with a focus on women and youth.

Sierra Leone: A US$30 million loan and a $2 million grant will support the Livestock and Livelihoods Development Program. This initiative will enhance livestock productivity, establish small and medium-sized enterprises and improve nutrition and income for rural communities. It is expected to create some 20,000 new jobs along the agricultural value chain and contribute to sustainable agricultural development.

Sri Lanka: A US$50 million loan will co-finance the Second Resilience, Stability, and Economic Turnaround Development Policy Operation to restore macroeconomic stability, improve fiscal governance and protect vulnerable populations.

Türkiye: A €50 million loan to the Climate Finance Facility Project will support investments in renewable energy, energy efficiency and climate adaptation. The project will be implemented by the Turkish Industrial and Development Bank (TSKB) and aligns with Türkiye’s net-zero target for 2053.

Uzbekistan: A €70 million loan will support the Second Inclusive and Resilient Market Economy Development Program. This initiative focuses on improving fiscal risk management, enhancing social inclusion and fostering private financing for climate action.

Private Sector Operations:

Côte d’Ivoire: A €35 million loan to a local bank will support on-lending to small and medium-sized enterprises (SMEs), addressing a financing gap for local companies. The loan will improve SMEs’ access to finance, fostering economic growth and job creation. Small enterprises represent nearly all businesses in Côte d’Ivoire.

Côte d’Ivoire: A €50 million participation in a trade finance facility will support the procurement and export of traceable cocoa, benefiting one million producers and five million people reliant on the cocoa sector.

Dominican Republic: A US$10 million loan to a local bank will support on-lending to micro, small, and medium enterprises (MSMEs) and women-led businesses, fostering economic growth and financial inclusion.

Egypt: A US$40 million loan will support the construction of two wind farms with a total capacity of 1.1 GW in the Gulf of Suez. This renewable energy project will provide clean energy to over 1.3 million households and contribute to Egypt’s goal of sourcing over 40 percent of electricity from renewables by 2035.

Ghana: A US$20 million participation in a secured trade finance facility will support the purchase, storage, and processing of cocoa beans. The facility will help expand access to premium cocoa in global markets.

Paraguay: A US$40 million syndicated loan to a local bank will support the growth of the bank’s SME loan portfolio and financing for agricultural projects, including women-led SMEs and green energy initiatives.

Uzbekistan: A US$30 million loan to Joint Stock Innovation Commercial Bank “Ipak Yuli” will expand lending to MSMEs, including women-owned businesses, fostering economic growth and job creation.

Technical Assistance Grant:

Regional (Asia and the Pacific): A US$1.5 million technical assistance grant will support the implementation of the Nature Solutions Finance Hub in partnership with the Asian Development Bank (ADB). The initiative aims to scale up investments in nature-based solutions to address biodiversity loss and climate change, targeting US$5 billion in financing flows by 2030.

Distributed by APO Group on behalf of OPEC Fund.

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$2.1 Billion and Counting: African Real Estate Is Executing

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3 hours ago

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July 21, 2026

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Africa

Ahead of the 17th Africa Property Investment (API) Summit in Cape Town, investment pipelines are converting into a record number of transactions as the continent’s real estate and hospitality sectors move from potential into real momentum

CAPE TOWN, South Africa, July 21, 2026/APO Group/ –Verified data gathered from across Africa’s real estate investment landscape reveals that the continent’s leading property and hospitality roleplayers completed more than $2.1 billion worth of transactions over the past 18 months, representing one of the most concentrated periods of institutional real estate deal activity in the continent’s history.

 

Download Document: https://apo-opa.co/3TraTiH

The 28 transactions (across nine countries and eight asset classes) were closed by API Summit stakeholders from across the institutional property ecosystem – spanning listed capital markets, commercial, residential, hospitality, logistics and alternatives.

The full African Deals Index report – compiled in collaboration with Broll, the data and insights partner for API Summit 2026 – will be unveiled on the opening day of the event, taking place at the Cape Town International Convention Centre on 17 and 18 September.

Talk turning to investment action

The deal-making activity is a signal of the much-spoken-about potential for Africa converting into tangible action, driven by enhanced investor confidence.

“This isn’t a forecast – it’s a balance sheet. $2.1 billion in completed transactions tells you African real estate has moved past the conversation about potential and into the discipline of execution,” said Malcolm Horne, Group CEO of Broll Property Group.

Horne highlighted several key shifts reflected in the data.

“What’s notable is where the conviction is coming from: domestic pension capital acting as a structuring investor, not a passive landlord, and green-linked financing becoming a board-level decision, not a marketing line. At Broll, we see this in our own data every day – across the assets we manage, the cost of capital is increasingly tied to the quality of the asset, not just its location.

“That’s the market maturing in real time, and it’s exactly the momentum my team and I are looking forward to presenting and unpacking at API this year.”

The 17th Annual API Summit takes place under the theme Bold Capital. Real Momentum. and is expected to attract over 600 delegates from more than 30 countries.

Niyi Adeyele, Head of Real Estate Finance, Africa Regions at Standard Bank Group, commented on the evolution of real estate sector funding across Africa.

“It remains interesting to track the resilience and the evolution of activities in the sector, from growing capital market activities, to the rapidly increasing participation of domestic capital sources within the African continent from domestic focused institutional capital sources such as pension funds and family offices to pan-African investor platforms that tend to operate across multiple countries.”

He said that accordingly, sectoral activity levels remain positive, with the “growing pace of green field projects in key markets” providing “early indications of a new growth cycle for the sector”.

Investors now have listed, liquid exposure to African real estate, and issuers have a repeatable route to permanent capital

Major moves from domestic capital and DFIs

Domestic pension capital has moved decisively beyond its traditional role as a passive landlord, emerging as an active, structuring investor in African real estate – a shift that will be central to discussions at the summit.

The charge was led by South Africa’s Government Employees Pension Fund (through the Public Investment Corporation and retail property powerhouse Pareto), which concluded commercial, residential and industrial transactions valued at over $343.5 million since the start of 2025.

“Through the Standard Bank Group’s franchise operations across multiple countries, there are observed increase deployment of institutional capital to across key markets driving increased primary and secondary market activities,” said Adeyele, pointing to examples such as Grene Capital’s raising of $100 million from Nigerian pension for property investments in Nigeria and beyond.

Sustainability-linked deal leads the way

Sustainability remains a critical factor in real estate financing considerations – evidenced by the largest transaction completed over the past 18 months.

Standard Bank and its African Regions brand Stanbic (along with Rand Merchant Bank) acted as co-lender on a $300 million green financing facility to facilitate Lango’s bid to become Africa’s first Green Pure Play real estate company, with 90% of its portfolio certified according to international standards.

Amongst several other milestones, the Africa Logistics Property (ALP) Industrial REIT listing on the Nairobi Stock Exchange in March 2026 was notable as East Africa’s first listing featuring entirely IFC EDGE-certified green buildings.

Listed capital makes major moves

REIT capital markets were the second largest asset class by value across the period, accounting for $568.5 million of activity, with the action extending well beyond South Africa’s established counters.

East Africa welcomed ALP’s Industrial REIT (marking the region’s first industrial and first USD-denominated security); Centum’s TRIFIC Dollar I-REIT (the first green, income-distributing USD-denominated) and Acorn Holdings’ build-to-rent D-REIT.

On Zimbabwe’s Victoria Falls Stock Exchange, the Pfuma Fund REIT and Eagle REIT both listed, deepening a hard-currency capital market that scarcely existed five years ago.

“Seeing multiple REITs listing on exchanges in one cycle tells you the asset class has crossed from novelty to norm. Investors now have listed, liquid exposure to African real estate, and issuers have a repeatable route to permanent capital,” said Raghav Gandhi, CEO of ALP.

API Summit 2026 – ushering in the next wave of deals

The unprecedented commitment of capital into Africa’s real estate sector takes centre stage when the 17th Annual API Summit convenes. Welcoming the investors, developers, financiers and policymakers behind the continent’s most prominent deals, this year’s event features a new Multifamily Forum alongside the popular Hospitality and Proptech Forums; an impactful main plenary, workshops, deals and meetings rooms and investment showcases, and the 10th edition of the prestigious API Awards.

For more information and to register, visit www.APISummit.co.za

Distributed by APO Group on behalf of API Events.

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ST Telemedia Global Data Centres Delivers on Responsible Scaling, Surpassing 2028 Carbon Intensity Target Three Years Early with Renewables at 83.2%

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July 21, 2026

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ST Telemedia

SINGAPORE – Media OutReach Newswire – 21 July 2026 – ST Telemedia Global Data Centres (STT GDC) today published its 2025 Environmental, Social and Governance (ESG) Report, setting out how the Singapore-headquartered global data centre provider is meeting accelerating demand, including from AI-driven workloads, through infrastructure that is more resilient, efficient and sustainable by design. The report highlights 83.2% renewable energy usage, a 70.5% reduction in carbon intensity from its 2021 baseline, 41.2% improvement in water usage effectiveness (WUE) from the 2020 baseline, and continued progress in embedding ESG considerations into how STT GDC designs, builds, finances and operates its data centres at scale.

The report positions responsible growth as a core business discipline for STT GDC, linking sustainability performance to long-term asset resilience, customer trust and operational excellence. Across its global platform, STT GDC is integrating ESG considerations into capital allocation, site selection, design, operations, risk management and workforce development to support reliable digital infrastructure at scale.

Bruno Lopez, President and Group Chief Executive Officer, ST Telemedia Global Data Centres, says, “The next phase of digital growth will be defined by how the industry resolves the tension between rising demand — particularly from AI — and the finite nature of energy, water and land. Responsible scaling is therefore not a sustainability commitment alone; it is a commercial and operational imperative that shapes where we build, how we design, and how we run our data centre platform. Our 2025 progress reflects disciplined execution of a strategy we have been advancing for years, delivering meaningful improvements in energy efficiency, emissions and resource management across our global platform. As we scale further, we will continue to advance with the same discipline — in the infrastructure we build, the governance that underpins it, and the positive impact we create for the communities and ecosystems we are part of.”

Scaling efficient, lower-carbon infrastructure

STT GDC continued to advance its decarbonisation strategy in 2025, delivering measurable reductions in emissions and improvements in resource efficiency while scaling its global data centre platform to meet rising digital demand. The Group’s approach focuses on embedding sustainability into the design and operation of its infrastructure, enabling long-term performance while managing growing energy and resource requirements. Key environmental achievements include:

Furthered renewable energy adoption, with 83.2% of electricity consumption sourced from renewables, supporting STT GDC’s transition towards carbon-neutral operations by 2030.
Reduced carbon intensity by 70.5% from the 2021 baseline, surpassing STT GDC’s 2028 target three years ahead of schedule, alongside a 15.2% year-on-year reduction in absolute Scope 1 and 2 emissions
Improved energy efficiency across operations, achieving an average Power Usage Effectiveness (PUE) of 1.44, a 13.0% improvement from the 2020 baseline, reflecting continued optimisation of data centre design and operations.
Enhanced water stewardship, with Water Usage Effectiveness (WUE) improving by 41.2% from the 2020 baseline, supported by a balanced approach to managing energy and water use in cooling systems.
Continued progress in sustainable infrastructure, with 48% of its data centres achieving green building certification, reflecting the integration of sustainability considerations across the lifecycle of its facilities.
Building a safe and future-ready workforce

As STT GDC continues to scale its global data centre platform, investing in people, safety and workforce capabilities remains central to delivering reliable and sustainable operations. In 2025, the Group maintained a strong focus on safeguarding its workforce, strengthening organisational capability and supporting the development of future-ready talent to meet the growing demands of the digital economy. Key social achievements include:

Maintained strong safety performance, with zero work-related fatalities and a Total Recordable Incident Rate (TRIR) of 0.1 across more than 41 million hours worked, reflecting robust health and safety management across construction and operations.
Strengthened workforce capability, with an average of 18 training hours per employee, supporting the development of technical, operational and leadership skills across the organisation.
Advanced diversity and inclusion, with 21.7% women representation across the Group, reinforcing ongoing efforts to build a more inclusive and balanced workforce.
Expanded talent development initiatives, including the DC Power Up programme and partnerships with 10 Institutes of Higher Learning across our markets, helping to build a pipeline of industry-ready talent for the growing digital infrastructure sector.
Deepened community and workforce engagement, through skills development programmes and industry-academic partnerships that support long-term talent development and contribute to local economic growth.
Strengthening Governance and Resilience at Scale

Strong governance, disciplined risk management and robust operational controls underpin STT GDC’s ability to scale responsibly in an increasingly complex digital environment. In 2025, the Group continued to strengthen its enterprise-wide approach to governance, embedding ESG considerations into decision-making, risk management and day-to-day operations to support long-term resilience and performance. Key achievements include:

Strengthened governance and ethical business practices, with 100% of employees completing anti-corruption training, reinforcing STT GDC’s commitment to integrity and accountability across its global operations.
Enhanced enterprise-wide risk management, incorporating climate, cybersecurity and operational risks into planning and decision-making, ensuring infrastructure resilience as the Group scales.
Advanced cybersecurity and operational resilience, including strengthened governance, technical controls and preparedness through initiatives such as executive-level cyber exercises and risk assessments across key facilities.
Improved supply chain governance, embedding ESG criteria into procurement processes and reinforcing responsible sourcing practices across its global vendor network.
Strengthened organisational alignment and execution, through the inaugural Group ESG Summit, supporting capability building and consistent application of ESG priorities across markets.
These efforts come as data centre operators face growing expectations to deliver capacity while managing energy, water, climate and cybersecurity risks with greater transparency and accountability.

STT GDC’s 2025 ESG Report reflects a continued evolution in how the Group approaches sustainable growth, with a stronger focus on disciplined execution, operational resilience and long-term performance as it scales its global platform. As digital infrastructure becomes increasingly critical to economies and societies, STT GDC will continue to embed sustainability, risk management and governance into how it designs, builds and operates its data centres.

By working closely with customers, partners and communities, the Group aims to deliver infrastructure that is not only efficient and resilient, but also capable of supporting the next phase of digital growth, including AI-driven workloads, in a responsible and sustainable way.

The full 2025 ESG Report is available at https://www.sttelemediagdc.com/about-us/our-esg-progress

About ST Telemedia Global Data Centres
ST Telemedia Global Data Centres (STT GDC) is one of the fastest-growing data centre providers with a global platform serving as a cornerstone of the digital ecosystem that helps the world to connect. Powering a sustainable digital future, STT GDC operates across Singapore, the UK, Germany, Italy, India, Thailand, South Korea, Indonesia, Japan, the Philippines, Malaysia and Vietnam, providing businesses an exceptional foundation that is built for their growth anywhere. For more information, visit https://www.sttelemediagdc.com/

 

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London Showcase to Bring Venezuela’s Energy Opportunities to Global Investors Ahead of 2026 Summit

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10 hours ago

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July 21, 2026

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A high-level London industry showcase on July 30 will bring together UK and European investors, financiers and energy leaders to explore emerging opportunities across Venezuela’s oil, gas and power sectors ahead of Venezuela Energy Week 2026

LONDON, United Kingdom, July 17, 2026/APO Group/ –As Venezuela accelerates efforts to revitalize its energy sector and attract international investment, Venezuela Energy Week 2026 will host an exclusive Industry Showcase in London on July 30, bringing together investors, financial institutions, international oil companies, commodity traders and energy executives for market intelligence, networking and partnership development ahead of the flagship conference taking place this October in Caracas.

 

Designed as a strategic preview of the main event, the London showcase will provide UK and European stakeholders with first-hand insight into Venezuela’s evolving investment landscape while creating opportunities for commercial dialogue with industry leaders, potential partners and key decision-makers.

Home to the world’s largest proven oil reserves and significant natural gas resources, Venezuela is entering a new phase of energy development focused on increasing production, expanding gas commercialization and modernizing critical infrastructure. Ongoing reforms and renewed international engagement are creating opportunities for companies able to provide capital, technology and technical expertise.

The timing is particularly significant as several UK and European energy companies continue to strengthen their presence in Venezuela. UK-based majors Shell and BP are advancing key natural gas developments, with Shell preparing for 2027 drilling at the Dragon offshore gas project and BP signing agreements in April to develop the Cocuina-Manakin offshore gas field, marking its return to the Venezuelan market. Spain’s Repsol recently announced plans to increase production from its Venezuelan assets, while Italy’s Eni is relaunching a heavy crude project in the Orinoco Belt. France’s Maurel & Prom, meanwhile, remains a key partner in strategic assets such as the Urdaneta Oeste field. On the trading and commercialization front, Geneva-headquartered energy trader Vitol has renewed its engagement with Venezuelan crude exports, reflecting broader international interest in reconnecting the country’s resources with global markets.

Against this backdrop, the London Industry Showcase will highlight Venezuela’s re-emerging investment potential while creating a platform for strategic networking and direct engagement with government leaders, national energy companies, regulators and private sector partners.

The event is expected to attract representatives from investment funds, export credit agencies, commercial banks, private equity firms, commodity traders, engineering companies, technology providers and UK-based independent energy companies exploring opportunities across Venezuela’s energy value chain.

The showcase will also provide an exclusive preview of Venezuela Energy Week 2026, including ministerial dialogues, executive forums, technical conferences and dedicated business-to-business networking sessions designed to connect international investors with the decision-makers shaping the country’s energy future.

Taking place on October 26–29, 2026 in Caracas, Venezuela Energy Week serves as the country’s premier platform for advancing investment across the oil, gas and power sectors. By bringing the conversation to London – one of the world’s leading financial and energy centers – the Industry Showcase builds momentum ahead of the flagship event while strengthening ties between international capital and one of the world’s most resource-rich energy markets.

To participate in the London Industry Showcase on July 30 or secure your place at Venezuela Energy Week 2026 in Caracas this October, contact info@venezuelaenergyweek.com to learn more about delegate, sponsorship and partnership opportunities.

Supporting Venezuela’s Earthquake Recovery

 

Our thoughts are with the people and communities affected by the recent earthquakes in Venezuela. As the country begins the long process of recovery, we encourage members of the global energy community to support relief and reconstruction efforts through the CAF Recovery and Reconstruction Fund for Venezuela, which channels contributions from individuals, companies and organizations to emergency assistance, essential services and long-term rebuilding efforts.

 

To learn more or make a contribution, please visit the CAF Recovery and Reconstruction Fund for Venezuela (https://apo-opa.co/3RKKqfz).

Distributed by APO Group on behalf of Energy Capital & Power.

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