In the presence of Saudi ambassador to the United Kingdom and Ireland Prince Mohammed bin Nawaf bin Abdulaziz, the Saudi embassy organized today a scientific lecture entitled "The Role of the Kingdom of Saudi Arabia in the Organization of Petroleum Exporting Countries (OPEC) and its contributions to OPEC Fund for International Development and the Future Challenges". This scientific lecture was presented by Director General of OPEC Fund for International Development Suleiman bin Jasir Al-Harbash as part of a series of cultural and scientific lectures held by the Saudi embassy in London. Al-Harbash explained that the fund is an international government developmental financing establishment established by OPEC in 1976 following a decision issued by the conference of kings and heads of the OPEC countries which was held in Algeria in 1975, the headquarters of the fund is in Vienna, in order to enhance cooperation between OPEC countries and other developing countries through the provision of financial resources needed to achieve their developmental objectives. Al-Harbash also said that the Ministerial Council of the Fund consists of 12 countries which are Saudi Arabia, Kuwait, AlgeriaGabon, Indonesia, Iran, Iraq, Libya, the United Arab Emirates, Qatar, Nigeria and Venezuela. The Kingdom is considered as the biggest contributing country to the fund where its share amounted to 37% of the total contributors in supporting the Fund. The scientific lecture was attended by members of the Saudi embassy staff in London.
