|Contributions||OPEC Fund for International Development.|
|LC Classifications||HC60 .A226 2003|
|The Physical Object|
|Pagination||415 p. ;|
|Number of Pages||415|
|LC Control Number||2004419134|
The OPEC countries’ collective policy is to offer external development assistance free from political or commercial ties, with the purpose of expressing the solidarity of one group of developing countries . OECD/OPEC DEVELOPMENT ASSISTANCE AND COOPERATION OPEC Current fifth programme Since Fund's inception, In under the fifth pro-Fund of aid amounts to $1, 41% of aid allocated to gramme, 16 LDCs received LDCs (=$) million. interest-free loans. More Grants offered to LDCs to LDCs expected to sign such. order led to the establishment of the OPEC Fund for International Development, which is a multilateral development finance institution seeking to promote co-operation between OPEC members and other developing countries. Over the years, the OPEC Fund has distrib-uted loans and grants to countries located in Africa,File Size: KB. This first OPEC Summit led to the establishment of OPEC’s own specialist multilateral development finance institution in , to help other developing countries pursue social and economic advancement. To date, the OPEC Fund for International Development has made total financial commitments of .
The reason these efforts, from both OPEC and the G & China, are so important is that today we live in a world where energy and the three pillars of sustainable development, namely economic growth, social development and environmental protection, must go hand in hand. Established as a multilateral development finance institution to promote cooperation between Member States of OPEC and other developing countries, OFID was conceived at the Summit of the Sovereigns and Heads of State of the OPEC Member Countries (MCs) held in the Algerian capital, Algiers, in March DEVELOPMENT COOPERATION REPORT FISCAL YEAR Government of Nepal OFID OPEC Fund for International Development OPEC Organization of Petroleum Exporting Countries PBA Program Based Approach assistance (e.g. World Bank, Asian Development Bank etc). OFID’s main objective is South-South development cooperation to provide assistance to the poorest countries in the world, based on ground-level partnerships. The founding agreement excludes members of OFID from receiving OFID aid. OFID and the OPEC Secretariat are two institutions with different functions.
OPEC (Organization of the including oil supply and demand levels, and trends in the world economy. Read more has followed with keen interest the Meeting of the OPEC+ or Declaration of Cooperation Partners which held on Thursday 9th April and the Meeting of the G20 Energy Ministers which held yesterday Friday 10th April aimed. OPEC broadened its mandate with the first Summit of Heads of State and Government in Algiers in , which addressed the plight of the poorer nations and called for a new era of cooperation in international relations, in the interests of world economic development and stability. The OPEC Fund for International Development (OPEC Fund) is the intergovernmental development finance institution established in by the Member States of the Organization of the Petroleum Exporting Countries (OPEC).The OPEC Fund was conceived at the Conference of the Sovereigns and Heads of State of OPEC Member Countries, which was held in Algiers, Algeria, in March The OPEC Fund for International Development (OFID) is the development finance institution established by the Member States of OPEC in as a collective channel of aid to the developing countries. OFID works in cooperation with developing country partners and the international donor community to stimulate economic growth and alleviate poverty in all disadvantaged regions of the world.