THE HISTORY OF THE OPEC FUND
In the early 2000s, a total of
2000s, the OPEC Fund set up a Special Food Aid Account with US$20 million to finance rapid delivery of wheat, maize and vegetable oil to countries including Eritrea, Ethiopia, Lesotho, Malawi, Mauritania, Mozambique, Swaziland, Zambia and Zimbabwe. A total of 45,000 tonnes of food – in the form of wheat grain, maize, corn-soya blend, vegetable oils and pulses – was distributed to affected communities throughout these countries.
An important transfer mechanism for the provision of food and other essential goods was the Common Fund for Commodities, which helped to stabilize prices in the most vulnerable and exposed countries. Of the 18 commodities covered, two-thirds were agricultural. The OPEC Fund approved 35 grants totaling US$37.2 million to cover the subscriptions of the Common Fund’s 31 least developed and four low- income countries. In addition, the OPEC
45,000 tonnes of food was distributed through the OPEC Fund’s Special Food Aid Account.
Press Release, September 5, 2003, Vienna, Austria: OPEC Fund completes delivery of food aid to Africa
The OPEC Fund for International Development has distributed over
43,000 metric tonnes of food aid to towns and villages in nine African countries: Eritrea, Ethiopia, Lesotho, Malawi, Mauritania, Mozambique, Swaziland, Zambia and Zimbabwe that are affected by the current food crisis sweeping much of Africa. Under a special Food Aid Grant Account, the OPEC Fund has provided a total US$20 million to assist a number of countries in Africa severely affected by the worsening crisis. The Fund grant was administered in eight of the beneficiary countries by the World Food Program (WFP), and in Ethiopia by the Ethiopian Disaster Prevention and Preparedness Commission. OPEC Fund delegations, some led by Director-General, H.E. Dr. Y. Seyyid Abdulai, began distributing food rations to Ethiopia on June 14, 2003, and wrapped up activities with its mission to Lesotho on September 4. Fund officials were able to witness,
first hand, feeding projects at health clinics and visited food distribution centers, neighborhood care points and warehouses. Rations were delivered in the form of wheat grain, maize, Corn Soya Blend, vegetable oil and pulses. The OPEC Fund’s donation of US$9.2 million to the WFP’s southern Africa regional operation million represents the ninth largest made. Much of central, southern, and the Horn of Africa are currently battling severe drought conditions, failing rains and agricultural crises. Food shortages are widespread and adding to difficult circumstances, resulting in a rising death toll. The OPEC Fund assistance was designed to
back a global effort now underway to support the affected countries.
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