Vienna, Austria: The United Arab Emirates has chaired the 45th annual session of the OPEC Fund Ministerial Council held in Vienna, Austria.
The UAE delegation was headed by Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs along with Thuraiya Hamid Alhashmi, Director of International Financial Relations and Organizations at the UAE Ministry of Finance and OPEC Fund Governing Board Representative, and Hammad Essa Al-Zaabi, Director of the Minister’s Office at the UAE Ministry of Finance and OPEC Fund Alternate Governing Board Representative.
![OPEC SECRETERIAT](https://cdn.emiratitimes.com/wp-content/uploads/2024/06/27103700/opec-sec-1.jpg)
The council reviewed the annual report and financial statements for 2023 and further discussed the progress of the Fund’s projects and initiatives. The presented information was shared on the OPEC Fund Strategic Framework 2030-Mid Term Review.
The comprehensive agenda of the session included electing Al Hussaini as Chairperson, and the Minister of People’s Power of Economy and Finances of the Bolivarian Republic of Venezuela as the Vice-Chairperson. The date and venue for the 2025 Ministerial Council meeting was fixed during the meeting.
Al Hussaini expressed his gratitude to the outgoing Chairman and congratulated the President of the OPEC Fund on his achievements in 2023.
Al Hussaini said that, “I believe this was accomplished with the support and guidance of the governing board as well as the hard work of the management and staff of the OPEC Fund. As the Fund strives for greater impact this year, I am confident it will surpass the achievements of the previous year with the support and guidance of the governing board and this Council.”
![Mohamed Hadi Al Hussaini](https://cdn.emiratitimes.com/wp-content/uploads/2024/06/20173645/Mohamed-Hadi-Al-Hussaini.jpg)
During Al Hussaini’s tenure as Chairperson of the OPEC Fund for International Development, from June 2024 to 2025, he will work with the governing board and Council members to facilitate the Council’s activities, follow up on topics, and make decisions. This highlights the UAE’s leadership in supporting global sustainable development efforts
The OPEC Fund for International Development, established in 1976, collaborates with OPEC and developing countries to stimulate economic growth and social progress. It has committed around $27 billion to projects in over 125 countries, with a total project cost exceeding $200 billion.