DEVELOPMENT NEWS DEVEL
MEETINGS WITH PARTNER COUNTRIES AND ORGANIZATIONS
Representatives of OPEC (the
Organization of the Petroleum Exporting Countries) and the OPEC Fund sit together at the G24 Finance Ministers and Central Bank Governors Meeting.
DID YOU
KNOW?
A unique feature of the
OPEC Fund – and a characteristic that is as true today as it was back in the 1970s – is that the organization supports only developing countries other than its own.
The OPEC Fund’s high-level delegation met with the Minister of Finance of Ethiopia, Ahmed Shide, to discuss strengthening development cooperation. The OPEC Fund has partnered with Ethiopia since the organization was established back in 1976.
The OPEC Fund’s Assistant Director-General, Public Sector Operations, Fuad Albassam attended the joint World Bank Group/IMF Development Committee’s 100th Meeting. In its statement to the meeting, the OPEC Fund noted: “Over the coming months, the OPEC Fund will strengthen its efforts to provide support to developing countries – especially low-income countries – in an increasingly complex and challenging development landscape. Our overarching goal is to maximize our development impact.” Albassam is pictured on his way to the meeting with the OPEC Fund’s Director, Asia Region, Anajulia Taylhardat.
Pictured is OPEC Fund Director-General Dr Abulhamid Alkhalifa (right) during a productive ‘standing’ meeting with President of the New Development Bank K V Kamath discussing development cooperation. The New Development Bank is the multilateral development bank established by the BRICS countries (Brazil, Russia, India, China and South Africa).
World Bank Middle East and North Africa (MENA) Chief Economist Rabah Arezki spoke about promoting fair competition in MENA and the need for bolder and deeper economic reforms in the region. Arezki was briefing the OPEC Fund’s delegation during a meeting about wider development collaboration, which preceded the signing of a new framework agreement.
A productive meeting was held between the OPEC Fund and the delegation of partner country Lesotho. Pictured here is the Kingdom’s Minister of Finance Dr Moeketsi Majoro.
The OPEC Fund’s Assistant Director-General, Financial Operations, Tarek Sherlala arrived in Washington, DC toward the end of the week for meetings with some of the world’s best known financial institutions. The meetings were scheduled to help the OPEC Fund move forward on its new strategy of maximizing its development impact across the globe.
PHOTOS (unless otherwise credited): OPEC FUND/Steve Hughes 31
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