Press Release

University of Bristol students visit OPEC Fund

30/2006 April 3, 2006, Vienna, Austria
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The OPEC Fund for International Development received on Friday, March 31, postgraduate students from the University of Bristol, UK, who visited the Fund to learn more about its aims and record in the field of development.

The 20-strong group, all of whom are members of the Bristol University International Affairs Society, was welcomed to the Fund by the Director-General, Mr. Suleiman J. Al-Herbish. Mr. Al-Herbish told them that the Fund was working in partnership and cooperation to move development forward. He said an important aim was to “contribute to the accomplishment of the Millennium Development Goals.” The OPEC Fund is observing, this year, its 30th Anniversary.

The students listened to a lecture, delivered by Mr. Sam Ifeagwu of the Department of Information, on the aims and record of the OPEC Fund. They learned that the Fund has, to date, extended a cumulative US$7.9 billion in financing to some 119 countries worldwide, with a strong focus on the least-developed ones. The students were also informed that over a period spanning three decades, the Fund co-financed over 1,050 projects that supported a wide range of sectors - from the construction and rehabilitation of bridges, roads, health centers, clinics and schools - to schemes that helped boost agricultural production and raise incomes for rural populations.

In addition, the students were briefed about the OPEC Fund’s activities financed through its grants program. The Fund extends grants in support of technical assistance, research schemes and emergency relief. Special Grant Accounts support food aid, Palestine and the global campaign against HIV/AIDS. Other topics discussed included the Fund’s private sector facility, where loans and lines of credit support various commercial projects.

The university of Bristol students were in Vienna as part of a week-long study tour. Visits and meetings included, among others, the OPEC Secretariat, the United Nations Headquarters and various UN agencies and embassies.