OPEC Fund for International Development (OFID)

OPEC Fund for International Development, Parkring, Vienna, Austria


established Established :

N/A

The OPEC Fund for International Development (OFID) is the intergovernmental 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 underdevelopment", and called for measures to strengthen cooperation between these countries.

OFID's objective is to reinforce financial cooperation between OPEC Member Countries and other developing countries, by providing financial support to the latter for their socioeconomic development. The institution's central mission is to foster South-South Partnership with fellow developing countries worldwide with the aim of eradicating poverty. OFID's headquarters are located in Vienna, Austria. The current Director-General is Suleiman Jasir Al-Herbish of Saudi Arabia. He is currently in his third term of office at OFID, having been re-elected unanimously by the institution's highest authority, the Ministerial Council, in June 2013.

Campus

#Discussions

No discussions right now. Be the first one to start.

Hey, ask a question or start a discussion here

Choose your question type:

Q/A Profile evaluation Poll Interview experience

http://www.ofid.org/


Do you work for this organisation?

Start managing your school's profile and gain access to marketing tools and analytics reports.

Request Access
Join the largest Study Abroad community      Log in      Sign up