04 | THE INSTITUTION – OUR MEMBERS
OUR MEMBERS The OPEC Fund for International Development was established on January 28, 1976. The current member countries are Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, United Arab Emirates and Venezuela.
STATEMENT OF CONTRIBUTIONS TO THE OPEC FUND BY MEMBER COUNTRIES AS OF DECEMBER THE 31, 2024 (IN US$ MILLIONS)*
The OPEC Fund is the only globally mandated develop- ment institution that provides financing from member countries to non-member countries exclusively as a unique South-South development agency with a global mandate. 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. 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 fourth round of replenishment concluded by end-2024 (see table of contributions to the right). The resources, which are complemented by those raised in the capital markets, are deployed in support of devel- opment projects with the goal to achieve the delivery of the 2030 Sustainable Development Goals (SDG). 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.
Country
Pledged
Paid-in
Algeria
105.6
105.6
Ecuador
7.2
6.2
Gabon
3.8
3.5
Indonesia
13.1
13.1
Iran
529.4
237.7
Iraq
154.8
154.8
Kuwait
380.2
380.2
Libya
211.0
153.2
Nigeria
249.8
249.8
Qatar **
94.9
94.9
Saudi Arabia
1,055.7
1,055.7
United Arab Emirates
174.2
174.2
Venezuela
481.8
370.6
Total
3,461.5
2,999.3
*Rounded to the nearest hundred thousand dollars **Qatar was a member of the OPEC Fund until July 1, 2019
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