Organisations

VISION

To aspire to a world where sustainable development, centered on human capacity-building, is a reality for all.

 

MISSION

To foster South-South partnership with fellow developing countries worldwide with the aim of eradicating poverty.

 

SCOPE

OFID provides financial assistance in a number of ways, with the distribution between the different types of aid changing over time as conditions in recipient countries evolve and needs alter. The methods of funding include:
• public sector loans for development projects and programs
• balance of payments support and debt relief under the Heavily Indebted Poor Countries (HIPC) Initiative
• supporting developing countries trade with lines of credits and guarantees
• support to private enterprises located in developing countries
• grants for technical assistance, food aid, research and humanitarian relief work
• contributing to the resources of other development organizations whose activities benefit developing countries

OFID has also been active to further structure institutional cooperation by co-financing projects with its sister institutions, such as the Arab Fund for Economic and Social Development, the Islamic Development Bank, the Kuwait Fund for Arab Economic Development and the Saudi Fund for Development, among others. OFID also partners with other institutions such as the African Development Bank, the Asian Development Bank, the World Bank, the Inter-American Development Bank, the CAF Development Bank of Latin America and the International Fund for Agricultural Development (IFAD). All developing countries, with the exception of OPEC member countries, are in principle eligible for OFID assistance. The least developed countries, however, are accorded higher priority and have consequently attracted the lion's share of OFID's resources. OFID has over the years spread its presence to 134 countries, of which 53 are in Africa, 43 in Asia, 31 in Latin America and the Caribbean and 7 in Europe.

 

OFID AND ENERGY POVERTY

OFID, which has pioneered energy poverty alleviation since 2007, is a staunch supporter of UN Secretary-General Ban Ki-moon’s Sustainable Energy for All (SE4ALL) initiative and is committed to using its resources to step up its interventions both at an advocacy and an operational level. The strategic framework for these activities is the institution’s Energy for the Poor Initiative, which is funded through a revolving endowment of US$1bn, a sum pledged by OFID’s supreme body, the Ministerial Council, in its June 2012 Declaration on Energy Poverty. OFID takes a nexus approach to energy poverty, addressing it holistically alongside food and water security.

 

TASKS

  • • To foster social and economic progress in the developing world through the provision of concessional financing
  • • To advance ‘South-South’ solidarity in every way available to it. It does this by promoting cooperation in many spheres among countries of the developing world
  • • To partnership with other developmental institutions in order to provide assistance development to developing countries world-wide

 

ACCOMPLISHMENTS

  • In its 38 years, OFID has helped improve the social and economic conditions of millions of people worldwide through projects across a wide range of sectors, such as transportation, energy, agriculture, health, water supply and sanitation and education, among others.
  • OFID’s total approved commitments as of the end of January 2014, stood at US$16.65 million, of which US$10.8 million has been disbursed.
  • OFID has channelled US$972 million in contributions from OPEC member countries to two international institutions: IFAD and the Trust Fund of the International Monetary Fund.

 

ORGANIZATION HEAD
Suleiman J. Al-Herbish
Director-General

STAFF
165 staff members
from 35 countries

CONTACT DETAILS
The OPEC Fund for
International Development
Parkring 8
A-1010 Vienna, Austria
Tel: +43 1 515 640
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.ofid.org

 

MEMBER PROFILES

EnC
Energy Community

IAEA
International Atomic Energy Agency

IIASA
International Insitute for applied System Analyses

IPI
International Peace Institute

OFID
The OPEC Fund for International Developement

OPEC
Organization of the Petroleum Exporting Countries

OSCE
Organization for Security and Cooperation in Europe

REEEP
Renewable Energy and Energy Efficiency Partnership

SE4ALL
Sustainable Energy for All

UNIDO
United Nations Industrial Development Organization