ITFC Signs $250M Agreement with Gambia at IsDB Meeting

During the Islamic Development Bank (IsDB) Group annual meeting in Baku, Azerbaijan, the International Islamic Trade Finance Corporation (ITFC) signed three strategic agreements aimed at enhancing trade finance and private sector growth among member states. A significant agreement was a three-year, $250 million framework with the Republic of Gambia, which follows a previous five-year agreement signed in January 2021.

This new agreement will support Gambia's priority sectors, including energy, food security, healthcare, and agriculture. Additionally, ITFC signed a $10 million direct Murabaha financing agreement with Tajikistan to facilitate the purchase of cotton and related products, benefiting approximately 37,000 cotton producers.

The agreements were signed by ITFC's Chief Executive Officer, Adeeb Yousuf Al Aama, and other officials, including Gambia's Minister of Finance, Seedi K. M.

Keita, and Tajikistan's Deputy Prime Minister, Hokim Holiqzoda. These initiatives reflect ITFC's commitment to providing Shariah-compliant trade finance solutions to support the development priorities of its member countries.