IITFC signs ten high-level trade agreements
The International Islamic Trade Finance Corporation (ITFC), member of the Islamic Development Bank (IsDB) Group, has signed ten major Trade Financing Agreements worth more than US$1.2BN, and Trade Development Agreements with its member countries from Asia and Africa, at the 46th IsDB Annual Meeting of the IsDB Group held in Tashkent, Uzbekistan earlier this month.
Furthermore, the framework agreements, which provide public and private sector financing, as well as Trade Related Technical Assistance programs for export development and SME development initiatives, target high growth industries including agricultural and energy and support the purchase of critical medical supplies.
ITFC CEO, Eng. Hani Salem Sonbol commented, “We are proud to have signed 10 trade financing and the trade development agreements at the 46th IsDB Annual Meeting. The impact of these agreements will be significant for ordinary citizens and will greatly enhance their economic prosperity. This significant milestone also reaffirms the mutual trust between our member countries throughout CIS and Africa regions and the ITFC teams. Furthermore, ITFC is dedicated to support economic growth among OIC member countries, especially during the challenging times of the Covid-19 pandemic period.”
