The Ministry of Finance participated in the 47th Meeting of the Ministerial Council of the OPEC Fund for International Development, held in Vienna, Austria, and attended by senior officials and delegations representing the Fund’s member states.
The meeting reviewed a number of items on the agenda, including the OPEC Fund’s Annual Report for 2025, its financial statements, and a range of other organisational matters.
Development Partnerships
H.E. Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, said that participation in the Ministerial Council of the OPEC Fund for International Development reflects the UAE’s steadfast commitment to supporting international cooperation and strengthening multilateral partnerships that promote sustainable economic and social development. He also highlighted the pivotal role of development finance institutions in channelling resources towards development priorities and enabling developing countries to build more resilient and sustainable economies.
He added: “The OPEC Fund for International Development continues to provide an effective model for collective development action through financing vital projects and supporting sectors that contribute to improving the quality of life of communities. The UAE, for its part, remains committed to advancing international efforts to expand the reach and impact of development finance and strengthen partnerships that deliver inclusive and sustainable growth for future generations.”
Promoting Development Cooperation
Established in 1976, the OPEC Fund for International Development is a multilateral development finance institution that fosters cooperation among member countries of the Organization of the Petroleum Exporting Countries (OPEC), their developing country partners, and the wider international development community. Its efforts contribute to sustainable economic and social progress while supporting stability and prosperity across low- and middle-income countries.
The Fund provides concessional financing, grants and technical assistance in support of development policies and programmes across key sectors, including agriculture, education, energy, health and transport. Its financing has supported development projects in more than 125 countries worldwide.
