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OFID OPEC Fund for International Development
OPEC Fund: A Record Year for Development and Sustainability
The OPEC Fund for International Development has had an unprecedented year as the institution stepped up its global development assistance efforts, committing a record-breaking US$1.7 billion to 55 projects worldwide. These funds, designed to address the challenges of climate change, support the energy transition, and strengthen social and economic resilience, mark a turning point in the Vienna-based Fund's efforts to promote sustainable growth worldwide.
January 30, 2024
OPEC Fund Approves New Financing to Fulfill its Climate Action Plan
The OPEC Fund for International Development (OFID) approved more than $300 million in new funding in the first quarter of 2023, reflecting the institution's commitment to fulfilling its Climate Action Plan. Three of the four projects approved by the OPEC Fund's Governing Board directly support climate finance.
March 15, 2023
OPEC Fund Mobilizes $1 Billion for Development Financing
OPEC Fund for International Development mobilizes $1 billion for development finance with "groundbreaking" first SDG bond. The bond was priced based on the Sustainable Development Goals (SDG) bonds, for which Credit Agricole CIB served as the sole sustainability advisor.
January 22, 2023
Influential OPEC Fund Celebrates 45th Anniversary
The Vienna-based OPEC Fund for International Development marks its 45th anniversary today. Since inception in 1976 by the Member States of OPEC, the multilateral development finance institution has approved more than US$25 billion in essential financing for 135 partner countries.
January 28, 2021
OFID - Austria Headquarters Agreement Updated
An amendment to the Headquarters Agreement between the OPEC Fund for International Development (OFID) and Austria in respect of the privileges and immunities granted therein has revised the 1981 Convention.
June 4, 2020
Headquarters Agreement with OPEC Fund Limits Privileges and Immunities
An amendment to the Headquarters Agreement between Austria and the OPEC Fund for International Development (OFID) is intended to bring the 1981 Convention up to date and comparable with modern Headquarters Agreements.
February 18, 2020
City of Vienna Positions Itself at UNIDO Silk Road Conference
At the recent two-day international silk road conference hosted by UNIDO, the Vienna Chamber of Commerce and Industry, represented by location lawyer Alexander Biach, took a stand and presented the opportunities and advantages of the Vienna region and the possibilities of a connection to the new Silk Road (Belt and Road Initiative).
September 24, 2019
What Does Vienna Have in Common with the New Silk Road?
In order to ensure sustainable development, the cities along the New Silk Road also have to face major infrastructural and social challenges, as well as climate-ecological challenges. More than 1000 participants from more than 178 cities are expected in September in the Vienna International Center for UNIDO's Bridge for Cities Conference as part of the Belt & Road Initiative.
August 12, 2019
The OPEC Fund OFID Has A New Director-General
Saudi Arabian national Dr. Abdulhamid Alkhalifa has taken over the post of Director-General of the OFID (OPEC Fund for International Development) from his predecessor Suleiman J Al-Herbish at the former Palais Deutschmeister at Vienna's Parkring 8. His task is to implement OFID's objective, which is to reinforce financial cooperation between OPEC Member Countries and other developing countries, by providing financial support to the latter for their socioeconomic development.
November 22, 2018
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