The OPEC Fund for International Development 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. 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.
OFID participates in the Electric Network Rehabilitation Program through a funding agreement of USD 60 million, to rehabilitate 9 circuits in the accredited areas of the electric distribution companies. Learn more on OFID’s contribution here.