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The OPEC Fund for International Development (the Fund) is a multilateral development finance institution. It was established in January 1976, by the member countries of the Organization of the Petroleum Exporting Countries (OPEC) following a decision taken in March 1975 by the Sovereigns and Heads of State of OPEC, meeting in Algiers. The Aims: - To promote cooperation between OPEC member countries and other developing countries as an expression of South-South, solidarity;
- To help particularly the poorer, low-income countries in pursuit of their social and economic advancement;
The Means: - By extending concessionary financial assistance in the form of loans for development projects and programs and for balance of payments support;
- By providing grants in support of technical assistance, food aid, research and similar activities, and humanitarian emergency relief
- By contributing to the resources of other development institutions whose work benefits developing countries;
- By serving OPEC member countries as an agent in the international financial arena whenever collective action is deemed appropriate;
- By participating in the financing of private sector activities in developing countries;
Countries in common between OPEC and Eastagri Network are: Azerbaijan, Bosnia and Herzegovina and Uzbekistan.
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