Under its grant program, the OPEC Fund may extend 3 types of grants :
- grants for country-specific activities and projects;
- grants for special development initiatives of global or regional scope; and
- emergency aid grants in support of humanitarian relief operations, including material or logistical assistance delivered for humanitarian purposes.
In line with the Agreement establishing the OPEC Fund, developing countries other than OPEC Member Countries are eligible for OPEC Fund’s grant assistance, with special consideration to the needs of LDCs.
Priority sectors and areas
While the OPEC Fund has financed projects in a wide array of sectors, including agriculture, energy, health, transportation and water and sanitation, it aims to be responsive to the needs of its partner countries.
In addition, the OPEC Fund provides emergency aid assistance and supports selected regional and global initiatives, especially those addressing priority issues on the sustainable development agenda.
Eligible partners are any government or non-government body, including co-financing partners, private sector entities, research institutes, UN agencies and international NGOs.
All grantees should meet a number of eligibility criteria, in particular have a good track record in implementing similar projects and technical expertise in the area covered. When a non-government and not-for-profit organization is applying for a grant, with the exception of other DFIs and UN agencies, it should provide clear evidence of government approval of the proposed project/activity.
Grant amount and co-financing requirements
The amount of OPEC Fund contribution will vary according to the scope and the nature of the proposed grant activity or project. However, and with the exception of emergency aid and small grants, OPEC Fund’s contribution to a stand-alone project should not exceed 50 percent of the total cost of the said project.
Grant applications may be submitted on ad-hoc basis at any time. Nevertheless, partner organizations are advised not to submit more than one application a year.
Additionally, partners that have been recently awarded an OPEC Fund grant for a project in the same country, which is still ongoing, should await its satisfactory completion before submitting a new grant application.
Funding : up to US$100,000