The Opec Fund for International Development has launched a US$1.5 billion financing initiative to support countries struggling with energy, commodity, and trade disruptions caused by the ongoing conflict in the Middle East. The initiative, called the Economic Stability, Trade and Resilience Initiative (E-Star), was unveiled in Vienna and will run from 2026 to 2028 across the fund’s partner countries, most of which are developing nations.
The fund explained that pressures in energy and commodity markets following the US-Israel-Iran war have disrupted trade flows and tightened financing conditions, straining budgets and growth prospects in many economies. E-Star is designed to provide rapid financial support to help governments and businesses cope with these challenges.
Trade finance is one of the initiative’s main priorities, with funding to be used for working capital support and ensuring the supply of critical goods such as energy, food, and agricultural inputs. The program will also provide fast-disbursing finance to governments facing rising import costs and make targeted investments in energy, transport, and logistics infrastructure to strengthen supply chains and reduce vulnerability to future shocks.
Opec Fund president Abdulhamid Alkhalifa emphasized that the initiative is intended to deliver practical support where it is most needed, helping countries maintain essential services, secure critical supplies, and stay aligned with their development priorities during a period of uncertainty.
The launch of E-Star follows the fund’s recent US$30 million loan to Bangladesh’s Prime Bank, aimed at providing trade finance support to businesses under economic pressure. Together, these efforts highlight the Opec Fund’s commitment to reinforcing resilience and stability in developing economies amid global disruptions.
