Venezuela was appointed to chair the Ministerial Council of the OPEC Fund for International Development (OFID) for 2025-2026, reaffirming its commitment to solidarity-based cooperation and inclusive development in the Global South.

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In a historic act reaffirming its role in international cooperation, Venezuela was elected this Wednesday to assume the presidency of the Ministerial Council of the OPEC Fund for International Development (OFID) for the 2025-2026 term.

The Venezuelan delegation was led by the Minister of Economy and Finance, Anabel Pereira, and the Alternate Governor to the Fund, Eduardo Ramírez, during the 46th Ministerial Meeting of this multilateral organization.

Venezuela’s appointment recognizes its longstanding role in promoting financial cooperation frameworks and inclusive development initiatives among Global South nations. The OPEC Fund for International Development channels resources toward infrastructure, health, education, and basic services projects in low- and middle-income countries, contributing to improving the lives of millions across Asia, Africa, Latin America, and the Caribbean.

By assuming the presidency of OFID’s Ministerial Council, Venezuela opens new opportunities to strengthen technical and financial cooperation, reaffirming its commitment to the Sustainable Development Goals from a perspective of social justice and national sovereignty.

 The Caribbean nation will seek to consolidate strategic alliances that ensure the continuity and expansion of the Fund’s programs in the most vulnerable regions, prioritizing solidarity and mutual respect.

The text reads: Venezuela proudly assumes the Presidency of the Ministerial Council of the OPEC Fund for International Development (OFID) for the 2025-2026 period, after being elected on June 18 by the member countries. This achievement reflects the international community’s confidence in our country and reinforces our commitment to energy development, strategic alliances, and responsible investment, under the leadership of President @NicolasMaduroMoros.

We celebrate this recognition, which consolidates Venezuela as a key player in multilateral development organizations, where we continue to actively contribute to the building of a multipolar and balanced world.

This presidency fits within Venezuela’s growing international projection in multilateral economic governance spaces, under the doctrine of the “Bolivarian Diplomacy of Peace.” This model promotes cooperation among Global South countries to face global challenges based on equality and self-determination, opposing imperial hegemonic policies.

Venezuela, at the helm of the Ministerial Council of the OPEC Fund for International Development, reaffirms its commitment to a fairer, more supportive, and sustainable world, demonstrating that international cooperation is a key tool to overcome the structural inequalities affecting the peoples of the Global South.

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