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Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

OPEC Fund offered US$1.7 bn in development funding in 2023

the OPEC Fund has provided around US$290 million to support sustainable development in Uganda.
  • The largest share in last year’s lending program was dedicated to policy-based-lending (31 percent).
  • The transport and storage sector received the major share of OPEC Fund’s support (14 percent)

Vienna, Austria – The OPEC Fund for International Development allocated US$1.7 billion across 55 projects globally in 2023, providing funding to address climate change and energy transition, support social and economic resilience and boost sustainable growth.

The organization was established 48 years ago and the 2023 results represent a record in new commitments.

“In 2023, the OPEC Fund increased its impact through the delivery of development support in a challenging global environment,” OPEC Fund Director-General Dr. Abdulhamid Alkhalifa, said. “We grew our lending programme across the board in response to strong demand by our partner countries and thanks to our success in raising additional funds from the capital markets.”

“We were also able to leverage our partnerships to mobilize development support by working with multilateral development banks and development finance institutions such as the Arab Coordination Group. And we are well on track with our 2030 target to commit 40 percent of all new financing to climate action,” he added.

In 2023, the OPEC Fund delivered strong results across Africa (42 percent of investments), the Middle East and North Africa and Europe and Central Asia (20 percent), Latin America and the Caribbean (20 percent), as well as Asia and the Pacific (18 percent) through public and private sector lending, trade finance and grants operations.

The largest share in last year’s lending program was dedicated to policy-based-lending (31 percent).

The transport and storage sector received the major share of OPEC Fund’s support (14 percent).

Aligned with the OPEC Fund Climate Action Plan, support in renewable energy projects constituted nearly 60 percent of all lending in the energy sector.