Press Release

OPEC Fund welcomes governments and ranking officials on anniversary observance

02/2006 January 30, 2006, Vienna, Austria
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The OPEC Fund for International Development is continuing with its observance of 30 years of partnership and cooperation with the world in the promotion of sustainable development.  The 30 th Anniversary Year began Friday, January 27, with a Staff Assembly at which the Director-General, Mr. Suleiman J. Al-Herbish thanked Member Countries, cooperating partners and Staff of the institution for the landmark. 

On Saturday, January 28, the actual date of the Fund’s establishment, the Director-General spoke at an Anniversary Dinner at which he again paid deserved tribute to Member Countries “for their sustained support in helping the Fund realize its noble objectives.” The Dinner was attended by ranking representatives of various countries, including Member States, beneficiary countries and host country Austria, as well a cross section of Vienna’s diplomatic and business communities.   

Expressing satisfaction with the cumulative achievements of the Fund, Mr. Al-Herbish noted that the Fund was not conceived as a permanent institution; “the simple fact that tonight we celebrate the Fund’s 30th birthday is powerful testimony to its success,” he said. 

The gathering was also addressed by HE Mrs Nenadi E. Usman, Nigeria’s Minister of State for Finance and by HE Dr. Edmund Daukoru, the Minister of State for Petroleum Resources of Nigeria and current President of the OPEC Conference.  

Mrs. Usman brought a message of goodwill from the people and government of Nigeria, remarking that, with the work of the Fund, considerable impact had been recorded in infra-structural development in developing regions of the world.  She said her country would continue to be active in the institution.  Dr. Daukoru applauded the accomplishments of the Fund, wishing it continued success with its valuable work. 

The OPEC Fund was established January 28, 1976, as a symbol of solidarity between the Member States of OPEC and other developing countries.  The Fund has since provided close to US$8 billion in financing, for multiple development projects and programs in 120 countries, worldwide.