International Islamic Trade Finance Corporation (ITFC) Strengthens Trade Cooperation with US$2.9 Billion in Agreements at 2026 IsDB Group Annual Meetings

The International Islamic Trade Finance Corporation (ITFC), a key member of the Islamic Development Bank Group, concluded its participation in the 2026 IsDB Group Annual Meetings held in Baku. The event culminated in the signing of agreements totaling US$2.9 billion aimed at enhancing trade finance and promoting regional cooperation among member countries and private sector partners.

Significant Agreements Signed

Over the course of four days, ITFC successfully transformed high-level discussions into actionable agreements that span both sovereign frameworks and private sector facilities. These agreements reinforce ITFC’s role as the trade finance and development arm of the IsDB Group, highlighting the importance of Shariah-compliant trade finance in addressing the priorities of member countries. The agreements are designed to provide timely and sustainable financing solutions that bolster economic resilience.

The agreements finalized during the meetings include:

• US$1 billion Framework Agreement with Burkina Faso for the period 2026 to 2030.
• US$750 million Framework Agreement with Côte d’Ivoire for 2026 to 2029.
• US$750 million Framework Agreement with Djibouti for 2026 to 2029.
• US$250 million Framework Agreement with The Gambia for 2026 to 2029.
• US$60 million Line of Trade Financing Facility with Invest Finance Bank in Uzbekistan.
• US$40 million Line of Trade Financing Facility with Orient Finans Bank in Uzbekistan.
• US$20 million renewal of Line of Trade Financing Facility with Asia Alliance Bank in Uzbekistan.
• US$10 million Line of Trade Financing Facility with Rabitabank in Azerbaijan.
• US$10 million Murabaha Financing Facility for the cotton sector in Tajikistan.
• A Confirming Bank Agreement with the International Finance Corporation (IFC) to support trade finance across shared member countries.

Focus on Private Sector and SMEs

On the final day of the meetings, the IsDB Group Signing Ceremony included several agreements aimed at expanding access to Islamic trade finance for the private sector and small and medium-sized enterprises (SMEs). Eng. Adeeb Yousuf Al Aama, Chief Executive Officer of ITFC, engaged in a bilateral meeting with Djibouti, resulting in a new Framework Agreement. The day’s agenda also featured ITFC’s participation in various sessions, including Plenary Session II and the Governors’ Round Table.

Key Signings Overview

Burkina Faso: US$1 Billion Framework Agreement

The US$1 billion Framework Agreement with Burkina Faso, covering the period from 2026 to 2030, establishes a collaborative platform aligned with the country’s National Development Plan, Relance. The agreement focuses on critical sectors such as energy security, food security, healthcare, and private sector development. It will be executed through Shariah-compliant financing agreements with designated authorities.

Djibouti: US$750 Million Framework Agreement

The agreement with Djibouti, valued at US$750 million, renews ITFC’s strategic cooperation under the National Development Plan, ADEEG 2025 to 2030. This partnership aims to enhance trade and prioritize imports in sectors such as energy and healthcare. The agreement will also be implemented through individual Shariah-compliant financing agreements.

Uzbekistan: US$100 Million in Partner Bank Facilities

During the meetings, ITFC extended two lines of financing facilities to partner banks in Uzbekistan. This includes a US$60 million Line of Trade Financing with Invest Finance Bank and a US$40 million Line of Trade Financing with Orient Finans Bank. These facilities aim to bolster the Islamic finance industry in Uzbekistan and enhance access to trade financing solutions for private sector clients, particularly SMEs.

ITFC’s Commitment to Trade Development

Since its inception in 2008, ITFC has provided over US$96 billion in financing to OIC member countries, positioning itself as a leading provider of trade solutions. The corporation aims to facilitate trade development among OIC member countries and enhance their access to trade finance, thereby improving socio-economic conditions globally.

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Published on 2026-06-19 20:43:00 • By the Editorial Desk