International Islamic Trade Finance Corporation (ITFC) Concludes Successful Participation at the Islamic Development Bank (IsDB) Group Annual Meetings with Nearly US$ 2.6 Billion in Signed Agreements
The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, concluded its participation at the 2025 IsDB Group Annual Meetings in Algiers with a series of impactful achievements that underscore its role as a leading catalyst for trade and economic development in the OIC Member Countries and with the rest of the world. With a total of US$2.6 billion of agreements signed, the Corporation reaffirmed its strong commitment to supporting the socio-economic and development priorities of its member countries. These included sovereign and private sector-focused facilities, new partnerships, and strategic engagements designed to enhance trade resilience, food and energy security, and SME growth.
During the meetings, ITFC signed a landmark five-year framework agreement with the Republic of Senegal with total envelope amount of EUR 2 billion to support key sectors such as energy, agriculture, healthcare, and the development of small and medium-sized enterprises. Another key sovereign financing was announced with the Republic of Guinea, to provide a Murabaha trade finance facility through the Central Bank of Guinea to support the import of petroleum products and essential commodities. ITFC signed a US$100 million Murabaha facility with EBID to facilitate imports of essential commodities for private sector clients across Member Countries. Meanwhile, ITFC also renewed its strategic partnership with Afreximbank through a US$300 million Murabaha financing agreement, aimed at securing food and energy supplies and enhancing intra-African trade flows.
A strong focus was placed on supporting the private sector and expanding Islamic trade finance tools. ITFC signed US$10 million in Mudaraba financing with Uzbekistan’s Smartbank and signed another agreement with Agrobank to increase the total financing amount to US$ 25 million aimed at providing Shariah-compliant financing to the country’s growing private sector. Furthermore, a EUR 20 million Murabaha facility was signed with Albaraka Türk to boost access to finance for SMEs and private sector clients in Turkiye.
Another milestone signing was in favor of Algeria where ITFC signed a US$100 million syndicated LC confirmation facility with Crédit Populaire d’Algérie (CPA) Bank to support trade transactions of both public and private sector clients, with a special emphasis on SME development. Additionally, ITFC inked a EUR 10 million facility with Crédit Communautaire d’Afrique (CCA) Bank in Cameroon, a EUR 10 million facility with Commercial Bank Cameroon, and a US$15 million Murabaha agreement with The Alternative Bank in Nigeria to support agricultural pre-exports and essential equipment imports.
The meetings with Officials and Stakeholders also provided an opportunity to strengthen regional trade development platforms. A grant agreement under the AfTIAS 2.0 program was signed with the government of Algeria to enhance cross-border trade with Tunisia. These partnerships were complemented by ITFC’s hosting of high-level dialogues during the Private Sector Forum, including a panel on trade facilitation and regional integration and a knowledge-sharing event exploring complementarities in trade and economic diversification across the OIC region.
The successful conclusion of the 2025 Annual Meetings reflects ITFC’s steadfast commitment to delivering integrated trade solutions that are both impactful and inclusive. By signing close to US$2.6 billion in new financing and partnership agreements, ITFC continues to strengthen its interventions that boost supply chains, promote Islamic finance, unlock new opportunities for sustainable development and improve the wellbeing of the people across its member countries.
Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).
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About the International Trade Finance Corporation (ITFC):
The International Islamic Trade Finance Corporation (ITFC) is the trade finance arm of the Islamic Development Bank (IsDB) Group. It was established with the primary objective of advancing trade among OIC member countries, which would ultimately contribute to the overarching goal of improving the socio-economic conditions of the people across the world. Commencing operations in January 2008, ITFC has provided more than US$83 billion of financing to OIC member countries, making it the leading provider of trade solutions for these member countries’ needs. With a mission to become a catalyst for trade development for OIC member countries and beyond, the Corporation helps entities in member countries gain better access to trade finance and provides them with the necessary trade-related capacity-building tools, which would enable them to successfully compete in the global market.
