The OPEC Fund for International Development (earlier known as OPEC Special Fund) is a multilateral agency for financial cooperation and assistance. It was established by OPEC member Countries and endowed by them with an international legal personality. The objective of the Fund is to reinforce financial cooperation between OPEC Member Countries and other developing countries by providing financial support to assist developing countries in their economic and social developmental efforts. The Fund does this by providing loans for balance of payment support and for the implementation of developmental projects and programmes. The Fund also finances technical assistance activities.