The OPEC Fund for International Development (OFID) is the development finance institution established by the Member States of OPEC in 1976 as a channel of aid to the developing countries. OFID works in cooperation with developing country partners and the international donor community to stimulate economic growth and alleviate poverty in all disadvantaged regions of the world. It does this by providing financing to build essential infrastructure, strengthen social services delivery and promote productivity, competitiveness and trade. OFID’s work is people-centered, focusing on projects that meet basic needs – such as food, energy, clean water and sanitation, healthcare and education – with the aim of encouraging self-reliance and inspiring hope for the future.
Grants are organized under a number of sub-programs including: technical assistance; research and other intellectual activities; and special programs to address major global public health concerns, to provide humanitarian and development assistance to the Palestinian people, and, most recently, to fight energy poverty. In implementing its grants program, OFID works with UN agencies and a host of national and international NGOs and other partners. By the end of December 2017, OFID had approved a cumulative total of US$653.7 million through its grants window.
OFID’s grant program includes technical assistance for small-scale social schemes, sponsorship for research and other intellectual pursuits, and humanitarian aid. In addition, OFID runs special programs for health, Palestine and energy poverty. The latter is a particular priority and complements the financing provided through other mechanisms in support of OFID’s Energy for the Poor Initiative. Read brochure: OFID’s grants program: A critical tool for development
During 2017, US$22.3 million was approved under OFID’s Grants and Technical Assistance window to support 65 operations in some of the most disadvantaged regions of the world.
Regionally, Asia was the biggest recipient, attracting US$10.7 million or nearly one-half of approvals. A little under one-third – US$7.2 million or 32% – of the yearly total was approved for Africa, multiregional operations attracted US$3.4 million, or 15%, of approvals, and Latin America and the Caribbean attracted US$1.0 million, or 4%.
From a sector perspective, health attracted the most approvals with US$5.3 million or 24%, closely followed by energy with US$4.9 million or 22%, agriculture with US$3.8 million or 17%, education with US$3.4 million or 15%, emergency operations with US$3.0 million or 13% and water and sanitation with US$1.7 million or 8%. The remainder was approved to support multisectoral projects.
Also noteworthy in 2017 was the completion of 36 projects financed with US$16.8 million of previously approved grant resources and benefiting 39 countries.
*Algeria, Ecuador, Gabon, Indonesia, Iraq, Islamic Republic of Iran, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, Venezuela