OFID at a glance Vision


To aspire to a world where sustainable devel- opment, centered on human capacity-building, is a reality for all.


Mission To foster South-South


Partnership with fellow developing countries


worldwide with the aim of eradicating poverty.


The OPEC Fund for International Development (OFID) is the intergov- ernmental development finance institution established in 1976 by the Member States of the Organization of the Petroleum Exporting Countries (OPEC). OFID was conceived at the Conference of the Sovereigns and Heads of State of OPEC Member Countries, which was held in Algiers, Algeria, in March 1975. A Solemn Declaration of the Conference "reaffirmed the natural solidarity which unites OPEC countries with other developing countries in their struggle to overcome underdevelop- ment," and called for measures to strengthen cooperation between these countries.


The aims


• To promote cooperation between OPEC Member Countries and other developing countries as an expression of South-South solidarity.


• To help particularly the poorer, low-income countries in pursuit of their social and economic advancement.


The means


• By extending concessionary financial assistance in the form of loans for develop- ment projects and programs, balance of payments support and trade financing.


• By participating in the financing of private sector activities in developing countries.


0.1 OFID commitments as of December 31, 2018 ($m)


14,521.0 Public Sector Lending 3,822.7 Trade Finance Facility 3,439.3 Private Sector Facility 1,021.9 IFAD*, IMF Trust Fund*, PRGF Trust


675.2 Grant Assistance


Total $23,480.0m


*Member Country contributions channeled through OFID 2


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