The second OPEC Fund Development Forum in Vienna concluded with financing commitments from development partners on food security and climate change.

OPEC Fund director-general Dr Alkhalifa said: "In its second year the OPEC Fund Development Forum again provided a platform for increased collaboration and decisive action from our partners. We have demonstrated that we are ambitious and that we deliver. We remain firmly committed to addressing pressing global issues and to extending our resources in support of sustainable development."

As part of a raft of commitments, the OPEC Fund signed an agreement with the International Renewable Energy Agency (IRENA) to join the Energy Transition Accelerator Financing (ETAF) platform, a global initiative that seeks to mobilise funds for renewable energy investments. The OPEC Fund plans to support the platform with up to US$250m sovereign and non-sovereign loan financing until 2030 in support of projects in partner countries.

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