Description/achievement of initiative
The Ministerial Council of the OPEC Fund for International Development (OFID), meeting in its 33rd Annual Session, on June 14th in Austria, issued a Ministerial Declaration which states that OFID is committing a minimum of US$1 billion to financing the Energy for the Poor Initiative, further augmenting OFIDís contribution to battling energy poverty. The Ministerial Council is OFIDís highest policy-making body.
(Statement made by OPEC Fund for International Development at its 33rd Annual Session, on June 14th in Austria. 2012. OFID Director-General, Mr. Suleiman J. Al-Herbish made this announcement to the UN Secretary General Ban Ki-moon during a meeting of the UN Secretary -Generalís High Level Group on Sustainable Energy for All).
OFID commits a minimum of US$ 1 billion to finance OFID's energy for the poor Initiative to further augment OFIP's ability to work against energy poverty, OFID stands ready to scale up its commitment if demand warrants. More information can be found by click the following link:OFID Ministerial Declaration on Energy Poverty
Arrangements for Capacity-Building and Technology Transfer
Coordination mechanisms/governance structure
OPEC Fund for International Development