1. Who We Are
  2. Member Countries

Member Countries

All a e g i k l n s u v

The OPEC Fund for International Development was established on January 28, 1976. The OPEC Fund exclusively finances development projects in non-member, low- and middle-income countries. When the member states established the OPEC Fund in 1976, they gave the organization not only a mandate, but also provided it with financial resources. 

The Organization of the Petroleum Exporting Countries (OPEC) is not a member of the OPEC Fund. The two organizations do not have the same membership and are separate entities with their own unique mandates and tasks. 

Pledged contributions to the OPEC Fund by Member Countries as of December 31, 2023

  • Saudi Arabia US$ 1.1bn
  • Iran US$ 529.4m
  • Venezuela US$ 481.8m
  • Kuwait US$ 380.2m
  • Nigeria US$ 249.8m
  • Libya US$ 211.0m
  • United Arab Emirates US$ 174.2m
  • Iraq US$ 154.8m
  • Algeria US$ 105.6m
  • Indonesia US$ 13.1m
  • Ecuador US$ 7.2m
  • Gabon US$ 3.8m

Please note: Figures are rounded

The Agreement Establishing the OPEC Fund stipulates that member countries do not receive a dividend, cannot withdraw paid-in capital and are not eligible for OPEC Fund assistance other than emergency grants. The resources, which are complemented by those mobilized from capital markets, are deployed in support of development projects with the goal to achieve the delivery of the 2030 United Nations Sustainable Development Goals (SDGs).