THE HISTORY OF THE OPEC FUND
The cooperation with the Carter Center, which started in 1997, has included donations of over US$1.8 million to the Guinea Worm Eradication Program, the Onchocerciasis Elimination Program for the Americas, the Ethiopia Public Health Training Initiative and trachoma control in Mali and Niger. Four decades ago, Guinea worm disease afflicted an estimated 3.5 million people every year in 21 countries in Africa and Asia. Today, thanks to the joint efforts spearheaded by the Carter Center, Guinea worm disease incidence has been reduced by more than 99.99 percent – to 15 human cases in 2024. The late US President Jimmy Carter expressed his gratitude with a visit to the OPEC Fund Headquarters in Vienna in 1998, and the honor was returned when then OPEC Fund Director-General Al-Herbish visited the Carter Center in Washington, DC in 2010. The OPEC Fund was also at the forefront when the world faced diseases like HIV/AIDS, Ebola and, most recently, the COVID-19 pandemic. In response to the devastating HIV/AIDS epidemic, the institution set up a dedicated account in 2001, joining forces with leading international aid and medical agencies to provide US$15 million in grant finance. Over the years the HIV/AIDS Account was replenished three times and helped fight the disease in 90 countries in all developing regions of the world.
When West Africa faced the next big health crisis in 2014 with the outbreak of the Ebola virus, the OPEC Fund provided grants and funding for containment efforts, most notably by donating to the World Health Organization’s (WHO) response plan. The funds were used for activities like medical supplies, training and strengthening healthcare systems in affected countries such as Sierra Leone, Liberia and Guinea. A different approach was chosen when, in 2020, the COVID-19 pandemic forced the world to a standstill: The OPEC Fund swiftly established a US$1 billion emergency loan facility which was fully utilized by the end of 2021.
Water, Sanitation and Hygiene (WASH)
Safe drinking water, sanitation and hygiene (WASH) are crucial to human health and well-being. Safe WASH is not only a prerequisite to health, but contributes to livelihoods, school attendance and dignity. It also helps
to create resilient communities living in healthy environments.
The OPEC Fund welcomes former US President Jimmy Carter in 1998
Drinking unsafe water impairs health through illnesses such as diarrhea, and untreated excreta contaminates groundwaters and surface waters used for drinking-water, irrigation, bathing and household purposes. The OPEC Fund provides financing for WASH projects to stimulate economic growth and social progress in low and middle-income countries by funding infrastructure like water supply systems and sanitation facilities, promoting hygiene education and supporting emergency relief. To date, the OPEC Fund has approved US$1.8 billion in water and sanitation though public sector loans and grants, the most recent WASH project being a US$20 million loan to the construction of water infrastructure in the capital of Sierra Leone, Freetown.
The Ebola crisis • Aug 4, 2014: The OPEC Fund provides “an emergency assistance grant of US$500,000 to support the activities of the World Health Organization in stopping the spread of the deadly Ebola virus.” The grant acted as a platform to consolidate support provided to Guinea, Liberia and Sierra Leone. UN Under-Secretary General Kandeh Yumkella praised the OPEC Fund “for being one of the first development organizations to respond to the WHO Ebola emergency response plan.” • February 4, 2015: The OPEC Fund and Cuba sign a US$400,000 grant agreement to support medical brigades deployed for Ebola missions in West Africa.
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