OPEC fund allocates $ 600 mn for global sustainable development

15 Dec 2023 CW Team

The OPEC Fund for International Development has approved a substantial investment of over $ 600 million to bolster global sustainable development initiatives. This financial commitment underscores the organisation's dedication to supporting projects that promote economic progress, social well-being, and environmental sustainability across the world.

The $600 million allocation is earmarked for diverse projects aimed at fostering sustainable development. This includes initiatives in sectors such as renewable energy, climate resilience, healthcare, education, and infrastructure. The significant financial injection reflects the OPEC Fund's recognition of the interconnected nature of sustainable development goals and the importance of collaborative efforts on a global scale.

The funding initiative is expected to have a profound impact on various regions, contributing to poverty alleviation, environmental conservation, and inclusive growth. By channelling resources into projects that prioritize sustainability, the OPEC Fund aims to play a catalytic role in addressing pressing global challenges.

This substantial investment aligns with the global community's commitment to achieving the United Nations Sustainable Development Goals. The OPEC Fund's proactive approach in supporting diverse projects signifies a collective effort to build a more equitable, resilient and sustainable future for communities worldwide.

Real Estate

05 Sep 2025

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..