Press Release

OPEC Fund receives member country oil professionals

55/2005 April 29, 2005, Vienna, Austria

Today, as part of a Multi-Disciplinary Training Course (MDTC) organized by the OPEC Secretariat, the OPEC Fund for International Development hosted a visit from a group of Member Country oil professionals. The purpose of the visit was to introduce the group to the Fund and provide an insight into the institution’s objectives and operations.

Participants were welcomed to the Fund by the Director-General, Mr. Suleiman J. Al-Herbish, who spoke of the institution’s “noble work…building bridges of hope and understanding across the developing world.”

The visitors received a full briefing on the history, philosophy, aims and activities of the Fund, followed by a stimulating questions and answers session that allowed for greater discussion on areas of special interest.

During the presentation, participants learned that, as of March 31, 2005 , the Fund had extended more than US$7.5 billion in development financing to a total of 119 countries in all developing regions of the world.

The MDTC is an annual program run by the OPEC Secretariat for oil industry professionals from Member Countries. The main objective of the program is to broaden their understanding of the research activities of the Secretariat, to increase cohesion and solidarity among them. Participants are largely drawn from the Oil/Petroleum Resources Ministries or National Oil Companies of Member States. This year’s course is the sixth of its kind.