HE Minister of Finance Chairs OPEC Fund Meeting

Vienna, July 25 (QNA) - HE Minister of Finance Ali Shareef Al Emadi chaired Saturday the 36th meeting of OPEC Fund for International Development (OFID), which was held in Vienna. HE Minister of Finance noted that members decided to fund OCID with a billion dollars to expand its operations. The OPEC Fund for International Development (OFID) is the development finance institution established by the Member States of OPEC in 1976 as a collective 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. (QNA)