OPEC Fund for International Development (OFID)

Fonds OPEP pour le développement international
Fondo de la OPEP para el Desarrollo Internacional

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History

Founded 28 Jan 1976, Paris (France), by member countries of Organization of the Petroleum Exporting Countries (OPEC), as OPEC Special Fund (OSF). Agreement came into force 10 May 1976. Commenced operations 30 Aug 1976. Converted to an autonomous development agency with present title in May 1980. Previously also known as the OPEC Fund.

Aims

Promote cooperation between OPEC member countries and other developing countries as an expression of South-South solidarity; help particularly the poorer, low-income countries in pursuit of their social and economic advancement.

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Activities

Financial and/or material support. As of Sep 2017, provided over US$ 644,000,000 in grants across all programmes, working with UN agencies and other international and national NGOs. Projects and operations: Public Sector Lending; Private Sector Lending; Trade Finance Facility; Grant Operations. Work is people-centered, focusing on projects that meet basic needs - such as food, energy, clean water and sanitation, healthcare and education - with the aim of encouraging self-reliance and inspiring hope for the future. Active worldwide.

Structure

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Languages

English.

Staff

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Financing

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Relations with Inter-Governmental Organizations

Relations with 71 inter-governmental organizations.
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Relations with Non-Governmental Organizations

Relations with 28 non-governmental organizations.
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Publications

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Members

Members in 13 countries
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Type I Classification

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Type II Classification

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Subjects *

  • Commerce
    • Funds
  • Development
    • Development

UN Sustainable Development Goals **

UIA Org ID

F6504

Last News Received

5. Mar 2018
* Subject classification is derived from the organization names and aims.
** UN SDGs are linked to the subject classification.

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