EN 
PT_BR 
O OPEC Fund for International Development signed, this Monday (19), an agreement with IRENA (International Renewable Energy Agency) to participate in a global initiative that seeks to mobilize investments to promote renewable energy.
In total, the organization's fund plans to support the initiative with around US$ 250 million in financing by 2030 for sclean font solutions in its partner countries.
Abdulhamid Alkhalifa, director general of the OPEC Fund, and Francesco La Camera, director general of IRENA, signed the agreement in Vienna, Austria, on the sidelines of the OPEC Fund Development Forum.
“This collaboration marks an important milestone in our joint efforts to address the twin challenges of climate change. This will help progress an inclusive and fair energy transition that leaves no one behind with investments, new technologies and knowledge sharing,” said Alkhalifa.
“Accelerating an energy transition based on renewable sources is imperative in the fight against climate change, as it allows us to simultaneously address present energy challenges and alleviate persistent social inequalities,” added La Camera.
“We are proud to announce the decision of the OPEC Fund to join IRENA's ETAF Platform, which will significantly strengthen the Platform's role as an effective and agile mobilizer of capital for the most vulnerable economies”, he highlighted.
The ETAF platform, established by IRENA and supported by the UAE, initially aimed to mobilize at least US$ 1 billion of capital by 2030. Now, with the commitment of the OPEC Fund and contributions from all other existing ETAF partners, this initial target has been exceeded , with total commitments of US$ 1.15 billion.
The partnership between the two also reinforces the platform's global reach and ability to attract the interest of other international financial institutions, multilateral development banks, development finance institutions, donors and entities in the business sector.
About the OPEC Fund
The OPEC Fund for International Development is the only development institution with a global mandate that provides financing exclusively from member countries to non-member countries.
The organization works cooperatively with partners in developing countries and the international development community to stimulate economic growth and social progress in low- and middle-income countries around the world.
