OPEC aid, the OPEC fund, and cooperation with commercial development finance sources
The Organization of Petroleum Exporting Countries (OPEC) has developed a Special Fund, which represents the only source of joint aid by all members of the cartel and which is seriously seeking new solutions to the development problem. The philosophy and activities of the OPEC Special Fund are presented, followed by suggestions for the role Western banks should play in financng the projects of developing countries. The need for close cooperation between those managing financial assistance and those managing the capital markets is felt to be essential if these countries are to continue their economic growth. Commercial banks that engage in more aggressive project financing could focus on self-liquidating projects, with a combination of government loan guarantees and repayment from project earnings to offset some of the imbalances in world economy.
- Research Organization:
- Organization of Petroleum Exporting Countries, Vienna, Austria
- OSTI ID:
- 6073619
- Journal Information:
- J. Energy Dev.; (United States), Vol. 4:2
- Country of Publication:
- United States
- Language:
- English
Similar Records
How the Euromarket fends off global financial disaster. [Successfully recycles OPEC's surplus money]
OPEC Fund analyzes developing-country energy needs