OPEC FUND FOR INTERNATIONAL DEVELOPMENT

The OPEC Fund for International Development is the development finance institution established by the Member States of OPEC in 1976 as a channel of ..... The OPEC Fund ensures fairness by offering equal access to the same opportunity. A fair process is free from nepotism, favoritism, self-interest or preference in judgement. Professional integrity and transparency are also key fundamentals of the OPEC Fund's Procurement Policy. Integrity is ensured by strong moral principles, including honesty and decency. All aspects of a procurement process are visible and evident to all stakeholders. Information on procurement, procedures, opportunities and processes is clearly, concurrently and publicly defined to all interested parties... The OPEC Fund procurement principles are a set of ethical standards, to which the institution and its suppliers are bound during the bidding process and throughout the execution of a contract.

Also known as: The OPEC Fund for International Development

Primary location: Vienna Austria