The Organization of the Petroleum Exporting Countries (OPEC) established the OPEC Fund for International Development (OPEC Fund) in 1976 as an intergovernmental development finance institution (OPEC). The OPEC Fund was conceived in March 1975 in Algiers, Algeria, at the Conference of the Sovereigns and Heads of State of OPEC Member Countries. The Conference’s solemn declaration “reaffirmed the natural solidarity that binds OPEC countries with other developing countries in their quest to eliminate underdevelopment,” and urged for measures to deepen collaboration between them. You can read more on their website