Cooperation with Other Organizations

To maximize the impact of its contribution to international development, the OPEC Fund is firmly committed to coordinating its efforts with similar institutions, particularly the bilateral and multilateral development agencies of OPEC member states, the specialized agencies of the United Nations system, regional development banks and a host of others. Such cooperation allows for the pooling of financial resources, manpower and skills to strengthen the delivery of development aid.

In the course of 1998, the Fund pursued its policy of cooperation by cofinancing a total of 18 operations, in a variety of sectors, in collaboration with other external donors. These included OPEC aid agencies - BADEA, the Kuwait Fund, the IsDB and the Saudi Fund - as well as a number of other partners, namely AfDF, AsDB, AusAid, BOAD, CEAO, EDF, IDA, IDB, IFAD, and the IBRD. A total of $93.646 million was contributed by the Fund to these projects whose combined cost amounted to $707.449 million. A further six projects, costing a total of $61.795 million, were financed in conjunction with the governments of the recipient countries, and sponsored by the OPEC Fund to the value of $50 million.

A number of grant operations also benefited from additional sources of external financing including, among others, the Arab Fund, CARE International, The European Commission, IAEA, IMO, IsDB, LAS, Noor Al-Hussein Foundation, OXFAM, Rockefeller Foundation, Rotary International, SELA, UNICEF, UNDP, UNFPA, USAID, WFP, and WHO.

Further details on cofinanciers of Fund operations in 1998 may be found in Part Two of this Annual Report. Click here for list of meetings and conferences attended by the Fund in 1998.

Cofinanced projects by economic sector in 1998
(in millions of US dollars)
Sector	OPEC Fund Loans	Total cost of projects
Agriculture and agro-industry	13.340	26.090
Education	5.000	58.120
Transportation	48.726	411.259
Other*	26.580	211.980
Total	93.646	707.449

* "Other" also includes multi-sectoral projects.