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The OPEC Fund joined the fight against HIV/AIDS when it became clear it had become a serious threat to socio-economic development. Given its own member countries, the organization often approaches development issues from a unique angle. The OPEC Fund worked with the International AIDS Society, for example, to create a forum for scientific exchange on implementing HIV programs and research within ‘conservative social settings’. Between 2005 and 2010, the OPEC Fund approved grants amounting to more than US$10 million to UNICEF to address the impact of HIV/AIDS on children and vulnerable mothers.


stories staff


Violet Onyemenam General Counsel


stories Public


Development is driven by a mix of complex factors and every


contribution counts. Personally, I am motivated by the realization that every loan agreement we sign represents not just a legal prerequisite, but eventually translates into more jobs,


hospitals, schools, water, energy and better opportunities in our beneficiary countries.


sector


In 2006, the organization launched its Trade Finance Facility. Through this facility, the OPEC Fund supports private enterprises and governments by facilitating the import and export of


strategic commodities and capital goods.


To date, the OPEC Fund’s public sector operations have helped develop 15 GW of electricity generation capacity.


Today, nearly 70 percent of financing is provided through public sector and grants, and 30 percent is provided through private sector and trade finance.


Fuad Albassam


Assistant Director-General, Public Sector Operations, on the importance of partnerships.


Working with like-minded institutions has always been central to the OPEC Fund’s operations. Of utmost importance is the OPEC Fund’s role in the Coordination Group, which consists of Arab and Regional Development Institutions, the Islamic Development Bank Group and the OPEC Fund. Among its many development-related roles, the Group works to improve cooperation and development effectiveness by harmonizing the processes by which developing countries may apply for and receive financial support.


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