- to promote co-operation between OPEC members in expressing solidarity with the developing nations of the southern hemisphere
- to help particularly the poorer, low-income countries in their pursuit of social and economic advancement
Over the years the Fund has spread its public sector lending activities to 121 countries around the world. Of these, 50 are in Africa, 40 in Asia, 27 in Latin America and the Caribbean, and four in Europe. All economic and social sectors have benefited from Fund assistance.
In the Public Sector, the Fund has implemented 15 lending programs. The Sixteenth Lending Program, approved for a three-year duration, became effective January 1, 2005. By the end of December 2007, a cumulative amount of US$7,376m had been committed for 1,164 Public Sector loans, of which US$4,446m had been disbursed.
Under the Private Sector Facility, established in 1998, 111 operations have been approved in support of private entities. By the end of December 2007, US$649m had been committed and US$298m disbursed.
In 2006, a Trade Financing program was launched. By end of December 2007, US$74m in lines of credit and US$35m in risk-sharing guarantees had been approved and US$15m had been disbursed.
