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A BOLD NEW


The OPEC Fund for International Development’s (OFID) highest policy-making body, the Ministerial Council, approved the general principles of a new strategic framework at its 40th Annual Session in July. Over the coming months, OFID will strengthen its efforts to provide support to developing countries – especially low-income countries – in an increasingly complex and challenging development landscape. OFID’s overarching goal is to maximize its development impact.


O 4


FID’s vision is to be a relevant, agile and efficient development finance institution that can deliver maximum development impact to its partner countries,


while becoming self-sustainable in financing its operations. To realise this vision, OFID will diversify its financial resources and has already begun to implement a coherent and consistent program of actions. These actions aim at creating greater efficiency throughout the institution and equipping it with more innovative and responsive operational and financial instruments. The world faces more demanding and interlinked development challenges than ever before. It’s clear that no one individual or organization has all the answers. So as part of its new strategy, OFID will renew its focus on partnerships.


OFID works closely with organizations such as regional development banks, the bilateral


and multilateral agencies of OFID member countries, specialized agencies of the United Nations and the World Bank. On the sidelines of latter organization’s Spring meetings in Washington DC, OFID signed public sector loan agreements totaling US$81 million to help boost development in four African countries. OFID Director-General Dr Abdulhamid Alkhalifa and the team also met with senior representatives of the World Bank Group and held other bilateral meetings with development institutions (see page 42). In addition to strengthening these existing partnerships, OFID will strive to form new relationships to revitalize the global partnership in support of sustainable development. To help mark our bold new vision, this issue


of the OFID Quarterly focuses on partnerships. In recognition of OFID’s roots, we’re pleased to present an exclusive interview with the OPEC Secretary General Mohammad Sanusi Barkindo on pages 20 to 23. Barkindo addresses many


crucial issues – including climate change – and quotes the English poet John Donne: “No man is an island, entire of itself; every man is a piece of the continent.” Other important partnerships, such as those


between OFID and the Arab Coordination Group, the United Nations Development Program, and the International Islamic Trade Finance Corporation can be found on pages 24 to 37. See also an extraordinary account of OFID’s cooperation with Nepal on pages 8 to 19, written following a road trip that helped OFID development practitioners document development impact and pinpoint priority areas for the future. There are many other development-related


features and articles within the following pages. Via this publication – and through its day-to-day operations – OFID is determined to shine a light onto the innovative approaches and successes of its own projects and those of its partners to help share best practice and inspire others.


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