The UAE participates in the 47th session of the Ministerial Council of the OPEC Fund for International Development

The UAE, represented by the Ministry of Finance, participated in the forty-seventh session of the Ministerial Council of the OPEC Fund for International Development, which was held in the Austrian capital, Vienna, in the presence of an elite group of delegations and officials from the Fund’s member states.

The meeting witnessed a review of a number of issues on the agenda of this session, including the Fund’s 2025 annual report and financial statements, in addition to a group of other organizational issues.

Minister of State for Financial Affairs Mohammed bin Hadi Al Husseini stressed that participation in the work of the Ministerial Council of the OPEC Fund for International Development embodies a firm commitment to supporting international cooperation and strengthening multilateral partnerships aimed at achieving sustainable economic and social development, pointing to the role played by development finance institutions in directing resources towards development priorities and enhancing the ability of developing countries to build more resilient and sustainable economies.

He added that the OPEC Fund for International Development continues to provide an effective model for joint development work, by financing vital projects and supporting sectors that contribute to improving the quality of life of communities. The UAE, in turn, continues to advance international efforts aimed at expanding the impact of development financing and consolidating partnerships that achieve comprehensive and sustainable growth for future generations.

The OPEC Fund for International Development, which was established in 1976, is a multilateral development financing institution that works to enhance cooperation between member states of the Organization of the Petroleum Exporting Countries (OPEC) and its partners from developing countries and the international development community, in a way that contributes to achieving sustainable economic and social progress and enhancing stability and prosperity in low- and middle-income countries.

The Fund provides concessional financing, grants and technical assistance in support of development policies and programs in vital sectors including agriculture, education, energy, health and transportation, as its funding has extended to development projects in more than 125 countries around the world.