At a Glance

The OPEC Fund for International Development (OPEC Fund) is a multilateral institution dedicated to supporting the achievement of the Sustainable Development Goals through the provision of financing, technical assistance and knowledge sharing.

The OPEC Fund is the only globally mandated development institution that provides financing from member countries to non-member countries exclusively. 

The organization was established in 1976 with a distinct purpose: to drive development, strengthen communities and empower people in low- and middle-income countries around the world. 

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$30 billion to development projects in over 125 countries with an estimated total project cost of more than US$200 billion. 

The OPEC Fund is rated AA+/Outlook Stable by Fitch and S&P Global Ratings. 

Our vision is a world where sustainable development is a reality for all.

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.

Founded the following year, 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.”  

In 1980, the OPEC Fund evolved into a permanent development finance institution agency and launched private sector and trade finance operations in 1998 and 2006, respectively, to help improve development impact and strengthen its own sustainability.

Today, the OPEC Fund's 12 member countries are: Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, the United Arab Emirates and Venezuela.

True to its original mandate, the OPEC Fund has since expanded its financing instruments and now offers a wider array of services and solutions to meet the evolving needs of the non-member countries it serves.

The OPEC Fund and OPEC

The OPEC Fund for International Development and the Organization of the Petroleum Exporting Countries are entirely separate entities with their own unique mandates and tasks and do not have the same membership.

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.