BAKU, Azerbaijan, November 6. The OPEC Fund for International Development (the OPEC Fund) is set to allocate up to $1 billion in development financing over the next three years to support Azerbaijan’s initiatives in water and sanitation, transport connectivity, and sustainable urban development, Trend reports via the Fund.
“The OPEC Fund is proud to stand with Azerbaijan in translating shared priorities into action. This new commitment builds on our Country Partnership Framework and focuses on concrete outcomes in priority sectors such as clean energy, water, transport and urban development. It reflects our confidence in Azerbaijan’s vision for sustainable growth and our determination to provide financing and partnerships that deliver measurable impact,” President of the Fund Abdulhamid Alkhalifa said
The announcement follows the Country Partnership Framework (CPF) signed between the OPEC Fund and the Government of Azerbaijan in June 2025 in Vienna, which provides a roadmap for targeted investments aligned with the national strategy ‘Azerbaijan 2030: National Priorities for Socio-Economic Development.’ The CPF sets out joint priorities for cooperation in energy transition, water and sanitation, transport modernization and urban resilience.
During his high-level visit to the country OPEC Fund President Alkhalifa met Azerbaijan’s national leadership and participated in an Arab Coordination Group (ACG) - Azerbaijan roundtable hosted by the Ministry of Economy in Baku.
Today, the OPEC Fund delegation will visit the Area-1 (Gobustan) wind farm, developed by Saudi Arabia’s ACWA Power and co-financed with a US$50 million OPEC Fund loan. The facility is part of the 240.5 MW Khizi–Absheron wind power project, Azerbaijan’s first large-scale, independently developed renewable energy investment. Once fully operational, it wil lgenerate around 907 GWh of clean electricity annually, powering more than 300,000 households and reducing carbon emissions by approximately 400,000 tons per year.
In addition, the OPEC fund delegation will review potential sites for the “Livable Baku” initiative, an urban resilience and environmental rehabilitation program designed to improve public spaces, restore polluted areas and enhance the city’s overall sustainability. The OPEC Fund’s partnership with Azerbaijan dates back to 2003 and has supported projects in agriculture, energy, infrastructure and private sector development.
The OPEC Fund for International Development is the only globally mandated development institution that provides financing from member countries to non-member countries exclusively. The organization works in cooperation with developing country partners and the international development community to stimulate economic growth and social progress in low- and middle-income countries around the world. The OPEC Fund was established in 1976 with a distinct purpose: to drive development, strengthen communities and empower people.
The fund's work is people-centered, focusing on financing projects that meet essential needs, such as food, energy, infrastructure, employment (particularly relating to MSMEs), clean water and sanitation, healthcare and education. To date, the OPEC Fund has committed more than $30 billion to development projects in over 125 countries with an estimated total project cost of more than $200 billion. The OPEC Fund is rated AA+/Outlook Stable by Fitch and AA+, Outlook Stable by S&P. Our vision is a world where sustainable development is a reality for all.