ABSTRACT
The OPEC Fund for International Development was established 1976 by OPEC member countries, in order to assist developing countries and to promote South-South co-operation. Eligible beneficiaries of the Fund's assistance are the governments of developing countries other than OPEC member countries, and international development agencies whose beneficiaries are developing countries. OFID's Private Sector Facility aims to encourage the growth of private enterprises, in particular micro, small and medium-sized enterprises, and to support the development of local capital markets. Since 2006 a Trade Finance Facility has provided loans, lines of credit and guarantees in support of international trade operations in developing countries. In July 2019 the OFID Director-General announced a new strategic focus on the diversification of the Fund's financial resources, on developing partnerships, and on improving institutional efficiency. Direct loans are supplemented by technical assistance grants.
