OUR MEMBERS
Established by the member countries of OPEC in 1976, the OPEC Fund for International Development (OPEC Fund) is a multilateral development institution dedicated to de- livering socio-economic impact to low and middle income countries.
The OPEC Fund’s resources consist of voluntary contribu- tions made by its 12 member countries Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, United Arab Emirates and Venezuela.
To date totally equity-funded, the institution’s capital reserves have been replenished and increased four times since the inception of the Fund, demonstrating the member countries’ solidarity and long-term commitment to support- ing transformational development and growth.
The latest replenishment was approved in 2011, when resources were agreed to be increased by US$1 billion be- tween 2013 and 2024. The Establishing Agreement stipu- lates that OPEC Fund member countries do not receive a dividend, cannot withdraw paid-in capital, and are not eligi- ble for OPEC Fund assistance other than emergency grants.
Statement of contributions to OPEC Fund by Member Countries as of December 31, 2021 (in US$ millions)*
Country Algeria Ecuador Gabon Indonesia Iran Iraq Kuwait Libya Nigeria Qatar** Saudi Arabia United Arab Emirates Venezuela Total Pledged 105.6 7.2 3.8 13.1 529.4 154.8 380.2 211.0 249.8 94.9 1,055.7 174.2 481.8 3,461.5 Paid-in 96.5 6.2 3.5 11.9 237.7 141.4 347.2 153.2 225.2 94.9 933.7 159.1 370.6 2,781.1
* Rounded to the nearest hundred thousand dollar. ** Qatar had been a member of the OPEC Fund until July 1, 2019.
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