VIENNA, April 29 (Xinhua) -- The OPEC Fund for International Development has launched a 1.5-billion-U.S.-dollar initiative to support economic stability, trade and resilience in partner countries amid rising global pressures.

The initiative, titled the Economic Stability, Trade and Resilience Initiative (E-STAR), will be implemented over the 2026-2028 period. It aims to provide rapid, demand-driven support to help countries maintain essential services, ensure access to critical imports, safeguard development gains and strengthen resilience against future shocks, said the OPEC Fund on Wednesday.

According to the fund, recent developments in the Middle East are placing additional strain on energy, commodity and trade markets, contributing to inflation, higher import costs and tighter financing conditions.

Under E-STAR, the fund will provide counter-cyclical support through fast-disbursing financing to help manage import costs and financing pressures while maintaining essential services. It will also strengthen trade finance to secure key goods and critical trade flows, and support investments in energy, transport and logistics infrastructure to enhance supply chains and reduce future risks.

OPEC Fund President Abdulhamid Alkhalifa said the initiative reflects the institution's commitment to addressing evolving global challenges and helping partner countries safeguard economic stability.

Based in Austria, the OPEC Fund is a multilateral development finance institution established in 1976 to promote socio-economic development in low- and middle-income countries through financing, technical assistance and other forms of support. ■