Letter of Transmittal to the Ministerial Council

March 14, 2002

Dear Mr. Chairman:

In accordance with Article 5, Section 2 (iv) of the Agreement Establishing the OPEC Fund for International Development, I have the honor to present to the Ministerial Council the Annual Report of the Fund for the year ending December 31, 2000.

The Report contains a general review of the Fund´s activities, a survey of its operations in 2001 and a description of its loans and grants during the year. A separate section outlines the various features of the private sector operations and describes progress to date. Statistical tables and appendices give a detailed breakdown of cumulative lending for project and program financing and balance of payments support, as well as debt relief extended within the framework of the Heavily Indebted Poor Countries Initiative. Also listed are the grants provided by the Fund since inception in the areas of technical assistance, research and similar activities, food aid and humanitarian emergency relief, as well as those extended as donations to the resources of other development institutions. A statement on contributions to the Fund by Member Countries, until the end of 2001, is also included.


Yours sincerely,

Saleh A. Al-Omair

Chairman of the Governing Board

Chairman of the Ministerial Council

The OPEC Fund for International Development