Kuwaiti diplomat commends OFID for its contributions to global development

By Abdelwahab Al-Queyed VIENNA, June 2 (KUNA) — Kuwait’s Ambassador to Austria and its permanent representative to international organizations Sadiq Marafie commended the OPEC Fund for International Development (OFID), for its work to bring social and economic development to all parts of the globe.
Marafie made the remarks in statements to KUNA on Thursday ahead of the 37th meeting of the OFID ministerial council, which brings together finance ministers of all 13 OFID member nations.
“This meeting is significant because it coincides with the 40th anniversary of OFID’s inception,” the Kuwaiti diplomat noted.
Moreover, Marafie, who heads Kuwait’s delegation to the meeting, said that Kuwait is amongst the pioneering members of OFID and supports its financial aid to underdeveloped nations, which boosts social and economic development in those countries.
Similarly, Kuwait’s Ambassador to Austria applauded the Kuwait Fund for Arab Economic Development (KFAED), for its contributions to economic development in Arab nations.
The one-day meeting will tackle issues pertinent to OFID’s core ideology, in addition to an annual report detailing loans and donations given by the fund.
Formed in 1976 by OPEC member nations, OFID aims to provide assistance to underdeveloped nations through loans and development programs.
A total of 132 nations in Africa, Asia, Latin America, and the Middle East have become the beneficiaries of such aid in recent years. (end) amk.nam