OPEC Fund provides US$1.5bn in new development financing in 2021, deepens impact and fully utilizes COVID-19 facility
Following the outbreak of the COVID-19 pandemic, the OPEC Fund established a US$1 billion facility which was fully utilized by the end of 2021.
- Following the outbreak of the COVID-19 pandemic, the OPEC Fund established a US$1 billion facility which was fully utilized by the end of 2021.
- The OPEC Fund for International Development (the OPEC Fund) is the only globally mandated development institution that provides financing from member countries to non-member countries exclusively.
- The OPEC Fund was established by the member countries of OPEC in 1976 to drive development, strengthen communities and empower people.
- The OPEC Fund has been rated AA+/Outlook Stable by the rating agency Fitch and AA/A-1+, Positive Outlook by S&P in 2021.