PREAMBLE
The Countries, Members of the Organization of the Petroleum Exporting Countries (OPEC), on whose behalf this Agreement is signed:
Conscious of the need for solidarity among all developing countries in the establishment of the New International Economic Order,
In keeping with the spirit of the Solemn Declaration of the Sovereigns and Heads of States of the OPEC Member Countries issued in Algiers, March 1975, of promoting the economic development of all the devel- oping countries, Aware of the importance of economic and financial cooperation between OPEC Member Countries and other developing countries, and of the strengthening of the collective financial institutions of developing countries, And desirous of establishing a collective financial facility to consoli- date their assistance to other developing countries, in addition to the existing bilateral and multilateral channels through which they have individually extended financial cooperation to such other countries, Have, therefore , agreed to establish an international financial institu- tion under the name of the “OPEC Fund for International Development” in accordance with the following Articles:
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