SAUDI MINISTER OF FINANCE DR. IBRAHIM BIN ABDULAZIZ AL-ASSAF CHAIRED THE 18TH MEETING OF THE MINISTERIAL COUNCIL OF OPEC FUND FOR INTERNATIONAL DEVELOPMENT HELD IN THE AUSTRIAN DISTRICT OF KARENTIA TODAY. DURING THE MEETING, AL-ASSAF WAS RE- ELECTED AS CHAIRMAN OF THE MINISTERIAL COUNCIL. IN A KEY ADDRESS, AL-ASSAF CAST LIGHT ON THE AGENDA OF THE MEETING, GIVING AN ACCOUNT ON THE ACHIEVEMENTS ACCOMPLISHED BY OPEC FUND OVER THE LAST 30 YEARS AS WELL AS THE FUND'S FUTURE PLAN. THE MEETING ALSO PASSED 2006 BUDGET AND PROGRAMS, INCLUDING THE CREDIT PROGRAM ESTIMATED TO HAVE COST $1850 MILLION, AN INCREASE OF %54 OF THE PREVIOUS PROGRAM, WHICH INCLUDED THE PROVISION OF MORE SOFTER CONDITIONS FOR LOANS BEING LENT THE LEAST POOR COUNTRIES WHEREAS 81 ARE EXPECTED TO BENEFIT FROM THIS PROGRAM. -
