The OPEC Fund for International Development (OPEC Fund) and the Indonesian Agency for International Development (Indonesian AID) have formalized a partnership with the signing of a memorandum of understanding (MoU) in Jakarta. This agreement aims to boost global development efforts, focusing on key areas such as climate action, food security, renewable energy, health, and capacity building.
The partnership will primarily involve co-financing projects and supporting the development of critical infrastructure, health, and sustainable development initiatives. Special attention will be given to the least developed countries and Small Island Developing States, according to a press release.
The MoU was signed by Musab Alomar, OPEC Fund’s Vice President of Strategy, and Tormarbulang Lumbantobing, CEO of Indonesian AID. OPEC Fund President Abdulhamid Alkhalifa emphasized Indonesia’s vital role as a founding member of the OPEC Fund and its strong commitment to the 2030 Agenda for Sustainable Development.
“Strengthening our collaboration with development agencies from OPEC Fund member countries enhances our ability to provide effective solutions in food security, renewable energy, and healthcare. Together, we can increase our impact, improve livelihoods, and advance the achievement of the Sustainable Development Goals,” Alkhalifa said.
Lumbantobing expressed his enthusiasm about the partnership, stating, “As a newly developing organization, we are excited to collaborate with the OPEC Fund. We look forward to learning from its best practices, especially in project management. Joint projects will help strengthen Indonesian AID’s role in OPEC Fund partner countries.”
This new collaboration aligns with both organizations’ missions to promote economic and social progress. The OPEC Fund, established in 1976, has provided over US$29 billion in financing across more than 125 countries, supporting sectors such as infrastructure, energy, clean water, healthcare, and education.
Indonesian AID, founded in 2019, focuses on combating poverty, hunger, and inequality, protecting the environment, and promoting global peace and security. One of its recent initiatives involved partnering with the government of Vanuatu and Indonesia’s health ministry to train local nurses, addressing a shortage of skilled healthcare professionals in the country.
Additionally, Indonesian AID and the Islamic Development Bank have teamed up to construct a new intensive care unit at East African University Hospital in Bosaso, Somalia. This project will provide healthcare services to over 700,000 people in the region.
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