Press release

24 Apr 2006

Beirut

OPEC Fund Director-General to Lecture at UNESCWA Thursday

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UNESCWA is set to host a lecture by Mr. Suleiman Al-Herbish, Director-General of the Organization of the Petroleum Exporting Countries (OPEC) Fund for International Development this Thursday 20 April 2006 at 12 noon at the UN House, Beirut. At the invitation of UNESCWA Executive Secretary Mervat Tallawy, Al-Herbish will brief attendees on the Fund and its achievements over the last 30 years, after which the floor will be open to discussion. Arab and foreign ambassadors, Lebanese ministers and parliament members, UN representatives, university and research center staff as well as the media have been invited to attend this event. Before becoming Director-General of the OPEC Fund for International Development in 2003, Al-Herbish served as Saudi Arabia’s Governor (Deputy Minister rank) at OPEC and as chairman of several key establishments in the Kingdom. The OPEC Fund for International Development is an intergovernmental development finance institution established in 1976 by the member states of OPEC. Its resources consist of voluntary contributions made by OPEC member countries and the accumulated reserves derived from its various operations. All developing countries, with the exception of OPEC member countries, are in principle eligible for Fund assistance. The least developed countries, however, are accorded higher priority and have consequently attracted the greater share of the Fund's resources. So far, 119 countries in Africa, Asia, Latin America, the Caribbean, the Middle East and Europe have benefited from the Fund's financial assistance. The Fund has also cooperated, over the years, with a myriad of multilateral, bilateral, national, non-governmental and other organizations worldwide, joining resources and efforts to assist developing countries. By the end of January 2006, the level of cumulative development assistance extended by the Fund stood at US$7,904.8 million and disbursements reached US$5,217.0 million.
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