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- OPEC Fund supports relief and recovery efforts in Libya after catastrophic floods with US$500,000 emergency aid grant
OPEC Fund supports relief and recovery efforts in Libya after catastrophic floods with US$500,000 emergency aid grant
October 3, 2023: The OPEC Fund for International Development (the OPEC Fund) is taking action to support relief and recovery efforts in Libya in the aftermath of Storm Daniel, which struck the country last month. Record-breaking rainfall and floods inflicted severe damage and tragic loss of life with currently over 10,000 fatalities and tens of thousands more missing and forcibly displaced.
In response to the humanitarian emergency, the OPEC Fund has approved a US$500,000 aid grant to provide urgent and medium-term relief to the affected population by meeting essential needs such as food, clean water, shelter, as well as protection and prevention measures. The grant will be channeled through the International Federation of Red Cross and Red Crescent Societies (IFRC) to support the operations of the Libyan Red Crescent Society (LRCS) and deliver assistance on the ground.
OPEC Fund Director-General Abdulhamid Alkhalifa said:
"Our hearts go out to the people of Libya who have endured unimaginable suffering due to this devastating storm. In close collaboration with the international community, we hope to provide essential support to those in need and to assist in the recovery from this disaster."
The storm struck major population centers such as the cities of Benghazi, Tobruk and Derna, causing severe damage to the health system, electricity, telecommunication, infrastructure and roads, limiting access to these areas. The OPEC Fund’s grant is designed to provide immediate assistance to the most affected regions and the most vulnerable members of the population, including families, children, the elderly, and people with disabilities.
The OPEC Fund's partnership with the International Federation of Red Cross and Red Crescent Societies (IFRC) dates back to 1997, with a track record of efficient and impactful implementation in challenging settings and crises. To date, the OPEC Fund has provided around US$32 million in grants to the IFRC for nearly 90 operations.
Libya is a founding member of the OPEC Fund and as such not eligible for OPEC Fund support with the exception of emergency grants. In the aftermath of the floods, Libya emphasized the need for additional medical personnel and urgent medical assistance, and appealed to the international community and humanitarian actors for support.
About the OPEC Fund
The OPEC Fund for International Development (the OPEC Fund) is the only globally mandated development institution that provides financing from member countries to non-member countries exclusively. The organization works in cooperation with developing country partners and the international development community to stimulate economic growth and social progress in low- and middle-income countries around the world. The OPEC Fund was established in 1976 with a distinct purpose: to drive development, strengthen communities and empower people. Our work is people-centered, focusing on financing projects that meet essential needs, such as food, energy, infrastructure, employment (particularly relating to MSMEs), clean water and sanitation, healthcare and education. To date, the OPEC Fund has committed more than US$24 billion to development projects in over 125 countries with an estimated total project cost of US$190 billion. The OPEC Fund is rated AA+/Outlook Stable by Fitch and AA, Outlook Positive by S&P. Our vision is a world where sustainable development is a reality for all.