OPEC Fund for International Development

OPEC Fund for International Development (OFID) is an economic development agency based in Vienna, Austria. Established in 1976, OFID 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 finance to build essential infrastructure, strengthen social services delivery, and promote productivity, competitiveness, and trade. It is managed and administered by its executive management team.OPEC Fund for International Development's investment portfolio is valued at over $ 1.63 billion, with investments in domestic and international equity, fixed income, private equity, and cash.