Press Release

 OFID Director-General addresses OPEC Conference of Ministers

Al-Herbish expresses institution’s ability to give development cooperation new impetus

05/2008 March 6, 2008 Vienna, Austria
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The OPEC Fund for International Development (OFID) has the institutional capacity, experience, cooperation network and the human resources to take on any new challenges according to OFID Director-General, Mr. Suleiman J. Al-Herbish. He was responding to recent discussions among Member Countries “to establish a new fund or program to help give development cooperation a new impetus.” He added that “OFID would be the perfect channel for the delivery of any such program.” His remarks were made at the opening session of the 148th (Ordinary) Meeting of the OPEC Conference of Ministers in Vienna yesterday.

Continuing, Mr. Al-Herbish seized the opportunity to thank the Custodian of the Two Holy Mosques, King Abdullah, who during the Summit highlighted OFID’s activities in his opening address. Mr. Al-Herbish stated that it was “encouraging to know that our work is recognized and valued at the very highest level.”

Referring to the declaration of the 3rd OPEC Summit, which took place in Riyadh, Saudi Arabia last November, Mr Al-Herbish said that OFID welcomed the mandate of its Member Countries to intensify efforts to find solutions to the problem of energy poverty. “With the launch of OFID’s 17th Lending Program in January this year, even greater resources have been earmarked for this purpose,” he said.

In conclusion, the Director-General informed the Ministers that steps had already been taken “to turn ideas into concrete action.” Later this year, he went on, OFID would hold a workshop on “Energy Poverty in Africa”. The workshop is scheduled for Abuja, Nigeria. Participants would include UNIDO and OFID sister institutions, as well as other interested parties, including the energy industry.