The Bolivarian Republic of Venezuela assumed the Presidency of the Ministerial Council of the Organization of the Petroleum Exporting Countries (OPEC) Fund for International Development (OFID) for the 2025-2026 term. The appointment took place during the 46th Meeting of the OPEC Fund Ministerial Council, which was attended by the Minister for Economy and Finances, Anabel Pereira, and the Alternate Governor, Eduardo Ramírez.
This important appointment represents recognition of Venezuela’s outstanding track record and leadership in the international economic and financial arena. The nation has been a key player in promoting sustainable development policies and economic cooperation among OPEC member and non-member countries.
The OPEC Fund for International Development, established on January 28, 1976, aims to finance development projects exclusively in low- and middle-income countries that are not members of the organization. Through this mechanism, initiatives aimed at improving infrastructure, education, healthcare, and access to essential resources have been promoted in various regions of the world.
Venezuela’s new Presidency of the Ministerial Council opens opportunities to strengthen strategic alliances and advance the global development agenda. This appointment reaffirms Venezuela’s commitment to international cooperation and sustainable economic development, and also consolidates its position as a relevant player within the OPEC Fund and the global financial arena.