The OPEC Fund

The OPEC Fund for International Development

The OPEC Fund for International Development is a multilateral development finance institution established in 1976. Its 12 Member Countries are: Algeria, Ecuador, Gabon, Indonesia, IR Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, the United Arab Emirates and Venezuela.

The OPEC Fund is dedicated to improving people’s lives by providing public, private, and trade sector financing, as well as grants, to support sustainable social and economic advancement across the globe.

The organization’s efforts strengthen infrastructure and human capacity across inter-related fields such as energy, transportation, agriculture, water and sanitation, health, and education, in some 135 countries.

The OPEC Fund continuously strives to build on its founding principle of South-South solidarity, particularly with low-income countries, and by focusing on people and partnerships, it maximizes development impact in an increasingly complex and challenging development landscape.

By providing affordable development finance to countries and regions that often find funds difficult to secure, the OPEC Fund is helping to solve market challenges in a market-supportive manner, while promoting cooperation with and among more vulnerable parts of our world.

The OPEC Fund’s resources are comprised of voluntary contributions made by its member countries and accumulated reserves derived from its 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 assistance.

Facts and figures

  • The OPEC Fund was established by OPEC Member Countries in 1976.
  • The OPEC Fund’s cumulative commitments to sustainable development amount to more than US$25 billion.*
  • The OPEC Fund has approved almost 4,000 projects across Public (1,617); Private and Trade Finance (500) sectors, as well as Grants (1,880).*

*As of March 31, 2020.