The OPEC Fund for International Development (the OPEC Fund) and the United Nations World Food Programme (WFP) have announced the establishment of the “OPEC Fund’s Food Security and Climate Adaptation Facility”, an initiative aimed at strengthening climate-resilient food systems and food security in the vulnerable regions across the world.
The WFP is the lead technical partner in the facility and will play a key role in project design, implementation, and technical review, it was shared.
An initial US$3 million grant from the OPEC Fund will seed the facility with additional funding mobilised from co-financiers, including multilateral development banks, development finance institutions, and other donors.
The facility seeks to mobilise US$500 million in investments by 2030 and will begin with pilot initiatives in sub–Saharan Africa.
WFP Executive Director Cindy McCain said: “WFP is proud to support this initiative, which represents hope and resilience for communities on the frontlines of the climate crisis – especially smallholder and women farmers. Together with the OPEC Fund, we will help these communities adapt and build stronger, more sustainable food systems that are able to thrive in our changing climate”.
OPEC Fund President Abdulhamid Alkhalifa, commented: “Climate change poses significant adverse impacts on food availability and access, as well as the stability of food systems around the world. Our facility will mobilise financing, knowledge and innovation to foster sustainable and resilient food value chains, improving livelihoods for vulnerable communities.”