Iraq participates in OPEC Fund for International Development meeting
A view inside the headquarters of the OPEC Fund for International Development. Photo: The Africa Report
Baghdad (IraqiNews.com) – An Iraqi delegation headed by the Minister of Finance, Taif Sami, participated in the meeting of the OPEC Fund for International Development held in the Austrian capital, Vienna, according to the Iraqi News Agency (INA).
In bilateral meetings held on the sidelines of OPEC Fund’s meeting, Sami discussed developing a future strategy with the fund to maximize development cooperation efforts between Iraq and the fund, INA mentioned.
Sami also discussed supporting the participation of the private sector in efforts related to development and climate change.
The meetings also addressed ways to enhance cooperation and joint action between the member states, and efforts to achieve sustainable development, by financing many projects in development sectors.
Sami indicated that the fund was established by the member states of OPEC to accelerate the development and to finance projects in vital sectors such as food, energy, infrastructure, employment, small and medium enterprises, water and others.
The OPEC Fund for International Development is a multilateral development finance institution established in 1976. Its 12 member countries are Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, the United Arab Emirates and Venezuela.
The organization works in cooperation with developing country partners and the international development community to support sustainable social and economic advancement in low- and middle-income countries around the world.