The OPEC Fund for International Development, OFID, has rescheduled the forthcoming 171st Meeting of its Governing Board, originally scheduled for 17th March, 2020. A new date in mid-April 2020 is being sought and contingency plans to hold a virtual meeting are also in place.
Management of the OPEC Fund has continued to monitor the impact of COVID-19 on its core business of providing financial assistance to developing countries across the world. Management is also in direct contact with the Austrian authorities and will support and follow any guidance issued, as well as noting the precautions taken by peer organisations.
The OPEC Fund is well prepared for remote working to minimise social contact if necessary. Management will work with the Austrian authorities to help mitigate the impact on public health. All non-essential travel has been cancelled, as have all group visits to the OPEC Fund’s headquarters in Vienna.
OFID was established in January 1976 by the then 13 member countries of OPEC; including the United Arab Emirates. It is the development finance institution established as a channel of aid to developing countries.