THE OPEC FUND TIMELINE
2004 • Establishment of Blend Facility, a new public sector financing window, which leverages concessional financing to widen outreach to partner countries • Humanitarian aid to countries affected by the Southeast Asia earthquake and tsunami
2007 • Third OPEC Summit issues Riyadh
Declaration: “We recognise that energy is essential for
2010 • First teacher training project signed – US$11 million loan for Malawi • First geothermal energy project signed – US$7 million loan for Djibouti
poverty eradication, sustainable development and the achievement of the Millennium Development Goals.”
2008 • The OPEC Fund launches the Energy for the Poor initiative
2011 • First grants disbursed
• US$9.9 million loan provided to the Sivas-Erzincan Development Project in Türkiye, boosting the agriculture sector and strengthening food security for more than 50,000 people
under new special account for energy programs
2006 • Rebranded as OFID, new logo introduced • United Nations General Assembly Observer status granted
2009 • The OPEC Fund makes first loan with the Eastern and Southern African Trade and Development Bank (TDB), later becoming an institutional shareholder • US$600,000 grant to the King Hussein Cancer Foundation in Jordan for a new interventional radiology suite
2012 • US$1 billion pledge for Energy for the Poor initiative • US$100 million in emergency aid exceeded • First wind energy project signed – US$15 million private sector loan to Foundation Wind Energy II Limited in Pakistan • Cooperation with Austrian Development Agency begins with a US$500,000 grant for a solar thermal project in four southern African countries 2013 • US$600,000 grant funds a series of water, sanitation and hygiene interventions for cholera prevention in Cameroon and Chad
• Trade Finance operations begin with a commodity import support project in Seychelles • Inaugural Annual Award for
Development given to the Zimbabwe branch of the NGO HUMANA People-to-People
11
Powered by FlippingBook