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THE OPEC FUND AT 45


The OPEC Fund works with its


partners to stimulate economic growth and social progress in low- and middle-income countries around the world.


The organization has a global mandate. So far, the OPEC Fund has partnered with 135 countries.


Dr. Abdulhamid Alkhalifa Director-General


Originally known as the OPEC Special Fund, it began


operations in 1976 with an initial endowment of US$800 million.


1976


US$800 million


In 2019, the OPEC Fund embarked on a new strategy to maximize its development impact. “The OPEC Fund’s new strategy, backed by our member countries, has enabled us to be more agile and responsive to complex and fast-changing development needs. Now is the time for development institutions like ours to demonstrate how we can help bridge the gap between the ‘haves’ and the ‘have- nots’ by moving smartmoving and fast, and working together t


ge the gap be s’ and the


he ‘ha and w an


resources to the people mos in need."


to deliver s to the ost


betw


The OPEC Special Fund’s first


operation was to provide support to Sudan in Africa.


The first operations in Latin America


(Guatemala, Haiti and Honduras) also took place in 1976.


The organization


Scherazade Deneuve-Ikour Director, Business Development, Private Sector and Trade Finance


The journey has mattered to me the most – all the successes and the challenges along the way. It has been extremely gratifying to have been involved in almost 60 projects during my 15 years at the OPEC Fund, and to have contributed to the effort to transform the institution in the early days, launching the Trade Finance window and implementing new instruments. In some cases, we were ahead of major market players, such as when we ventured into structured commodity finance. Navigating the global financial crisis of 2008 and now managing through COVID-19 – while growing our activities, balancing mandate and sustainability – is also part of that journey. Above all, I believe it’s about ensuring that the OPEC Fund lives on long after we’re all gone, and that it is there for future generations.





ses ring


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19 stories staff


was established by the member countries of OPEC with a distinct mandate: to drive


development, strengthen communities and empower people.


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