Grant Program - Contribution to other Organizations

The Common Fund for Commodities (CFC)

OFID was instrumental in the establishment of the CFC in the early 1980s, providing a total of US$83.56 million to its resources. Of this sum, US$37.16 million was given to cover the subscriptions of 35 LDCs to enable them to become members of the CFC. The remaining US$46.4 million is being utilized to help finance projects undertaken by the CFC or the benefit of resource-poor commodity producers in the developing world.

International Fund for Agricultural Development (IFAD)

OFID played a significant role in the establishment of IFAD, channeling US$861.1 million in contributions from OPEC Member Countries towards the agency’s initial capital and first replenishment. From its own resources, OFID provided US$20 million to the first replenishment as a special grant