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International Islamic Trade Finance Corporation Extends Emergency Medical Financing to the State of Palestine in COVID-19 Response
ITFC intervention delivers life-saving front-line personal protective equipment in the fight against novel coronavirus
The ITFC is committed to doing all it can to enhance the protection of medical staff working in the fight against COVID-19 in the State of Palestine
The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), has agreed to an immediate US$ 40,000 financial support to the Ministry of Health in Palestine. The request was made by the Palestinian International Cooperation Agency (PICA) for the provision of medical equipment to the State of Palestine during the outbreak of the new coronavirus (COVID-19).
The financing comes through the Islamic Development Bank’s (IsDB) pledged US$2.3 billion 3Rs Response Package, ‘Respond, Restore and Restart’, and will help the Ministry of Health to procure medical equipment suppliers in partnership with the IsDB Reverse Linkage Scheme. Specific medical equipment needed includes ICU ventilators, protective uniform suits, face masks, surgical gloves, and disposable face masks.
Commenting on the ITFC’s approval for the financing, Eng. Hani Salem Sonbol, ITFC CEO, said: “The ITFC is committed to doing all it can to enhance the protection of medical staff working in the fight against COVID-19 in the State of Palestine. Support in the sourcing and financing of medical equipment at this time is much-needed to mitigate the health, social and long-term economic impact of this terrible new disease in the Palestinian State.”
Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).
Eng. Hani Salem Sonbol, ITFC CEO
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About the International Islamic Trade Finance Corporation (ITFC):
The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org) is a member of the Islamic Development Bank (IsDB) Group. It was established with the primary objective of advancing trade among the Organization of Islamic Cooperation (OIC) Member Countries, which would ultimately contribute to the overarching goal of improving the socio-economic conditions of the people across the world. Since 2008, ITFC has provided more than US$51 billion to OIC Member Countries, making it the leading provider of trade solutions for the 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.