OPEC Fund replenishes special grant account for Palestine
22 June 2005
The OPEC Fund for International Development today announced the allocation of fresh resources to its Special Grant Account for Palestine. The US$15 million replenishment was approved by the Fund’s highest policy-making body, the Ministerial Council, meeting at its 26th Annual Session in Seefeld, Austria. The Special Account was established by the Fund in 2002, with an initial endowment of US$10 million, to channel assistance to operations that would alleviate hardship and prevent further impoverishment and suffering among the Palestinian people. Boosted by an additional US$15 million in 2004, the Account has supported numerous initiatives, ranging from the rebuilding of damaged infrastructure and the provision of medical assistance, to micro-credit and a wide range of capacity-building and social projects. Read more about OPEC Fund replenishes special grant account for Palestine