The OPEC fund for
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The OPEC Fund
for International
Development
  1. Who we are
  2. At a Glance

Who we are

  • At a Glance
  • Member Countries
  • Facts & Figures
  • The Organization
  • Partners
  • FAQs

At a Glance

The OPEC Fund for International Development (the OPEC Fund) is a multilateral development finance institution established in 1976. Our 12 Member Countries are:  Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, the United Arab Emirates and Venezuela.

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We work 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. To date, we have worked with 135 countries. 

135 Partner Countries

The organization was established by the member countries of OPEC in 1976 with a distinct mandate: to drive development, strengthen communities and empower people. The OPEC Fund’s 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. Our vision is a world where sustainable development is a reality for all.

By providing affordable development finance to countries and regions that often find funds difficult to secure, we are helping solve market challenges in a market-supportive manner, while promoting cooperation with and among more vulnerable parts of our world.

Our resources are comprised of voluntary contributions made by our member countries and accumulated reserves derived from our decades of operation (i.e. loan repayments and investments). 

All developing countries, with the exception of OPEC Fund or OPEC member countries, are in principle eligible for our assistance.

Our History

The OPEC Fund for International Development was conceived at a Conference of the Sovereigns and Heads of State of OPEC Member Countries, in Algiers, Algeria, March 1975.

Initially named 'The OPEC Special Fund,' the institution was originally intended to be a temporary channel of assistance that would reaffirm “the natural solidarity which unites OPEC countries with other developing countries in their struggle to overcome underdevelopment.”  

We evolved into a permanent development finance institution agency in 1981, and launched private sector and trade finance operations in 1998 and 2006, respectively, to help improve development impact and strengthen our institution’s own sustainability.

True to our original mandate, we have since expanded our financing instruments and now offer a wider array of services and solutions to meet the evolving needs of our partner countries.

OPEC

The Organization of the Petroleum Exporting Countries (OPEC) is a permanent, intergovernmental Organization, created at the historic Baghdad Conference, September 10–14, 1960.  It aims to coordinate the petroleum policies of its member countries and determine the best means of securing stable oil supplies.

OPEC’s first Summit of Heads of State and Government in Algiers in 1975 led to the establishment of the OPEC Fund for International Development in 1976. 

Though the OPEC Fund for International Development (the OPEC Fund) was born of OPEC, the two organizations have distinct mandates that do not overlap.  Over time, the OPEC Fund and OPEC have even evolved to comprise a slightly different set of member countries.  

The OPEC Fund’s support for development in non-member countries is entirely independent of the level of income its member countries receive from their oil resources.  Nevertheless,  the OPEC Fund remains - and will always remain - the manifestation of its member countries’ ambitions to create a fairer, more equitable and prosperous world.  The OPEC Fund for International Development and OPEC will work together whenever doing so will promote the realization of this ambition. 

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Who we are

  • At a Glance
  • Member Countries
  • Facts & Figures
  • The Organization
  • Partners
  • FAQs
Scroll top
Who we are
  • At a Glance
  • Member Countries
  • Facts & Figures
  • The Organization
  • Partners
  • FAQs
What we offer
  • Overview
  • Public Sector Lending
  • Private Sector & Trade Finance
  • Grants
  • Beyond the Scope
Focus Areas
  • Overview
  • Agriculture
  • Education
  • Energy
  • Financial
  • Health
  • Industry
  • Infrastructure
  • Multisectoral
  • Telecommunications
  • Transportation
  • Water & Sanitation
Operations
  • Search Operations
  • World Map
  • Countries A-Z
News & Stories
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The OPEC Fund
for International
Development
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