OFID receives Award of Excellence

The OPEC Fund for International Development (OFID) has received a UN Award of Excellence for its efforts at fostering human growth and development in the developing countries. The Award, which was presented by the Special Unit for South-South Cooperation of the United Nations Development Program, was in recognition of OFID’s commendable work in eradicating poverty in poor countries.

Mr. Abdulaltif Salam, the Acting Permanent Representative of Saudi Arabia to the UN, who received the Award on behalf of Mr. Suleiman Al-Herbish, Director-General of OFID, acknowledged in his acceptance speech the remarkable work of our institution, since its inception, in making a difference in the lives of millions in poor countries.

He also described how OFID has succeeded in its efforts to accumulate a vast stock of expertise and experience in all one hundred and twenty beneficiary countries through years of involvement and investment. These engagements, Mr. Salam said, have yielded rich dividends in tens of countries in Asia, Africa, and South America.

Other recipients included the Organization of the Islamic Conference for pioneering the Islamic Solidarity Fund and Dr. Muhammad Yunus, Managing Director of Grameen Bank in Bangladesh, for introducing micro-financing to the poorest of the poor in his home country.