VISION

A world where sustainable development is a reality for all.

 

MISSION

Together we drive development, strengthen communities and empower people.

 

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.

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.

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.

 

THE OPEC FUND AND ENERGY POVERTY

Energy is at the heart of the social, economic and environmental challenges – and opportunities – facing the world today. It underpins Agenda 2030 and the Sustainable Development Goals. Without energy, there would be no power for hospitals or school, for example. Farming and agriculture require energy, as does cleaning and pumping safe water supplies. For students to study past dusk, they need safe clean light in their homes.

By the end of 2019, the OPEC Fund had approved US$5.5 billion in 465 energy-related operations worldwide. This represents nearly one-quarter of our total approvals. Out of these approvals, around US$1.2 billion supported 157 renewable energy operations in 68 countries.

Please see more information about our renewable energy projects here.