THE OPEC FUND FOR INTERNATIONAL DEVELOPMENT
Annual Report 2020
About the OPEC Fund
The OPEC Fund has sharpened its focus on development impact, strengthening its position to deliver ever more responsively to the changing needs of partner countries, and improving its contribution to the SDGs. We provide public, private and trade sector financing, as well as grants, to support sustainable development. To date, we have approved more than $25bn for operations in over 125 partner countries. More than $600m of this total is grant funding. Our work aligns with the Global Partnership for Effective Development Cooperation and the four shared principles of development: ownership of development priorities by developing countries; a focus on results; inclusive partner- ships; and transparency and accountability.
The OPEC Fund for International Development (the OPEC Fund) is a multilateral development finance institution established in 1976.
Our 12 Member Countries are: Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, the United Arab Emirates and Venezuela. We are the only globally mandated development institution that provides financing from member countries to non-member coun- tries exclusively. We work in cooperation with developing country partners and the international development community to stim- ulate economic growth and social progress in low- and middle-income countries around the world. Driven by the organization’s strategic priorities, all operations support sustainable development in sectors including agriculture, energy, transport & storage, water & sanitation, educa- tion and health, aligning clearly with the United Nations Sustainable Development Goals (SDGs).
NOTES:
– Unless otherwise stated, ‘$’ refers to US$. – Transactions approved in euros have been converted to US$. – Minor discrepancies between figures and totals are due to rounding. – Maps are for illustrative purposes only and are not to be taken as accurate representations of borders. – Commitments are operations and agreements that have been signed by the relevant parties.
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