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The OPEC Fund for International Development
07 August 2020 Share Tweet

The OPEC Fund for International Development (OFID) is the development finance institution established by the Member States of OPEC in 1976 as a channel of aid to the developing countries. OFID works in cooperation with developing country partners and the international donor community to stimulate economic growth and alleviate poverty in all disadvantaged regions of the world. It does this by providing financing to build essential infrastructure, strengthen social services delivery and promote productivity, competitiveness, and trade. OFID’s work is people-centered, focusing on projects that meet basic needs – such as food, energy, clean water and sanitation, healthcare, and education – with the aim of encouraging self-reliance and inspiring hope for the future. OFID provides assistance through means of loans, grants, and technical assistance. 

The first loan from OFID to Maldives was in 1977 for balance of payments support. Since then, the OFID has assisted the country with financing in the areas of transport, fisheries, ports development, water supply and sewerage, education, and environment .

OFID in the Maldives

2020Public Sector Investment Program Budgetary Support LoanUSD20,000,000
2020Outer Island Harbors, Water Supply and Sewerage Facilities ProjectUSD50,000,000
2016Development of the Ibrahim Nasir International Airport ProjectUSD50,000,000
2015Provision of Water Supply, Sanitation and Solid Waste Management ProjectUSD50,000,000
2014Outer Islands Water Supply and Sewerage Facilities ProjectUSD20,000,000
2012S. Hithadhoo Regional HospitalUSD8,400,000
2008Construction of Harbors for Tsunami VictimsUSD5,549,260
1999Airport Upgrading Phase IVUSD1,449,941
1996Southern Atolls Development ProjectUSD1,101,412
1996Atoll Schools Upgrading and ExpansionUSD2,500,000
1994Vilingili Water Supply and Sewerage ProjectUSD3,000,000
1992Third Fisheries ProjectUSD2,600,000
1989Malé Ports Project - Phase 1USD2,000,000
1988Airport Project ExtensionUSD2,000,000
1986Balance of Payment SupportUSD800,000
1983Second Fisheries ProjectUSD849,294
1982Balance of Payment SupportUSD520,000
1981Balance of Payment SupportUSD600,000
1981Inter-Island Transport ProjectUSD550,390
1980Balance of Payment SupportUSD1,000,000
1979Balance of Payment SupportUSD800,000
1978Airport ProjectUSD1,000,000
1977Balance of Payment SupportUSD500,000
Website link: www.ofid.org