Press Release

OFID Director-General addresses G-77 Meeting in Rome
Al-Herbish assures developing nations of continuing support

06/2007 February 27, 2007 Rome, Italy
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The Director-General of the OPEC Fund for International Development (OFID), Mr. Suleiman J. Al-Herbish, was a guest at the 41st Meeting of the Chairmen/Coordinators of the G-77 Chapters, which gathered in Rome, February 26-27. Mr. Al-Herbish was present at the invitation of Her Excellency Dr. Lamya Ahmed Al-Saqqaf, Permanent Representative of Kuwait to the United Nations Organizations in Rome and Chairperson of the G-77 Rome Chapter.

In a brief statement, Mr. Al-Herbish outlined the goals and activities of OFID “as a multilateral development finance institution dedicated to the eradication of poverty, hunger and disease in the developing world.” The concerns and objectives of OFID were closely aligned with those of the G-77 countries, he pointed out: “Both organizations were founded in the spirit of South-South cooperation; a principle that continues to guide us to this day.”

Among the many concerns currently facing the developing nations, the Director-General identified the most pressing as the Millennium Development Goals, capacity building and HIV/AIDS. “OFID is working closely with all its partner countries to address these issues, and others,” he said. In this regard, Mr. Al-Herbish praised the efforts of the G-77 “in having the views of the developing countries, which represent the majority of the global population, heard in international forums.” In particular, he thanked the Group for its support to OFID Member Countries.

The Rome meeting was held under the Chairmanship of Ambassador Munir Akram, Permanent Representative of Pakistan to the UN and Chairman of the G-77 in New York. Delegates included the Heads of G-77 Chapters in Geneva, Nairobi, Paris, Vienna and Washington D.C., together with the heads of various UN organizations.

The G-77 is the largest intergovernmental organization of developing states in the UN, and provides the means for the countries of the South to articulate and promote their collective economic interests and enhance their joint negotiating capacity on all major international economic issues within the UN system. Although 130 developing countries are today members of the G-77, the Group retains its original name because of its historical significance.