TEHRAN – Iran’s Finance and Economic Affairs Minister Farhad Dejpasand was elected the chairman of the OPEC Fund for International Development (OFID) ministerial council, Iranian mission to Vienna announced.

According to Kazem Gharibabadi, Iran's ambassador and permanent representative to the international organizations in Vienna, the decision was made during OFID’s 40th annual gathering in Vienna on Friday.

Dejpasand visited Austria heading a delegation to hold meetings with some Austrian officials and also the director general of the United Nations Industrial Development Organization (UNIDO).

The OPEC Fund for International Development (OFID) is the intergovernmental development finance institution established in 1976 by the Member States of the Organization of the Petroleum Exporting Countries (OPEC). 

OFID was conceived at the Conference of the Sovereigns and Heads of State of OPEC Member Countries, which was held in Algiers, Algeria, in March 1975. A Solemn Declaration of the Conference "reaffirmed the natural solidarity which unites OPEC countries with other developing countries in their struggle to overcome underdevelopment," and called for measures to strengthen cooperation between these countries.

EF/MA