HE the Minister of Finance Ali Sherif al-Emadi will chair the 35th session of the Opec Fund for International Development (OFID), which will be hosted by Qatar on June 10 -12. The OFID ministerial session will be preceded by a preliminary meeting of the Board of Governors on June 10, which meets four times a year to consider approval of funding of proposed projects. The OFID is the development finance institution established by the Opec in 1976 as a collective channel of aid to the developing countries. OFID works in co-operation with the 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 financing to build essential infrastructure, strengthen social services delivery and promote productivity, competitiveness and trade. OFID’s work is people-centred, focusing on projects that meet basic needs - such as food, energy, clean water and sanitation, healthcare and education.
