The oil cartel’s secret aid fund
Why has OPEC kept its 40-year-old development fund under wraps?
The OPEC Fund for International Development (OFID) is a multilateral, finance development institution established in 1976. The institution focuses on projects that provide basic needs all over the world, such as food, energy, clean water, sanitation, healthcare, and education.
These projects took place in 134 countries: 53 of them in Africa, while other projects reached Asia, Latin America, and the Caribbean. So why has so little been heard of the oil cartel’s 40-year-old development fund?
We talk to OFID’s director general Suleiman Al-Herbish.
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