Source: International Islamic Trade Finance Corporation (ITFC) |

Joint Statement by heads of multilateral development banks and the World Trade Organization (WTO) on supporting trade finance during the COVID-19 crisis

Since the beginning of the COVID-19 outbreak, multilateral development banks have stepped up trade finance programs to support essential imports and key exports

The COVID-19 pandemic has provoked the deepest economic downturn of our lifetimes. In addition to the ongoing shocks to supply and demand, international trade has been affected by a reduction in the supply of trade finance. Risk perceptions about non-payment in international trade are at the highest levels in a…

International Islamic Trade Finance Corporation (ITFC)
Source: International Islamic Trade Finance Corporation (ITFC) |

International Islamic Trade Finance Corporation Finances Afreximbank with US$200 Million COVID-19 Response Package for the Agriculture Sector in Sub Saharan Africa

Murabaha financing agreement delivers critical support for thousands of farmers exporting food commodities across the continent as COVID-19 impacts global food commodity prices

The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), member of the Islamic Development Bank (IsDB) Group, signed a US$200 million syndicated Murabaha financing agreement with the African Export-Import Bank (Afreximbank), a multilateral financial institution established by African governments and institutional investors. The facility seeks to help African countries address some…

International Islamic Trade Finance Corporation (ITFC)
Source: International Islamic Trade Finance Corporation (ITFC) |

Republic of Benin COVID-19 Laboratories Commence Operations after Grant from the Arab Africa Trade Bridges (AATB) Program

The grant, which falls under the umbrella of the Arab-Africa Trade Bridges Program’s response to the COVID-19 crisis, provides immediate emergency funding to fight against novel coronavirus

The Arab Africa Trade Bridges (AATB) Program, led by the International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org) has granted emergency funding to the Republic of Benin to facilitate its COVID-19 ‘Screen-Isolate-Treat’ strategy as it fights to halt the spread of the virus. This initiative comes in line with the AATB…

International Islamic Trade Finance Corporation (ITFC)
Source: International Islamic Trade Finance Corporation (ITFC) |

International Islamic Trade Finance Corporation Signs US$15 million Murabaha Financing Facility to support SMEs in Bangladesh

ITFC partnership will enable one of Bangladesh’s key financial institutions to reach out and provide financial support to SMEs

The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-idb.org), member of the Islamic Development Bank (IsDB) Group, has approved a US$15 million Murabaha Financing Facility in favour of City Bank Limited in Bangladesh to support the Bank’s private sector businesses, particularly SMEs importing raw materials from the international markets. City Bank…

International Islamic Trade Finance Corporation (ITFC)
Source: International Islamic Trade Finance Corporation (ITFC) |

International Islamic Trade Finance Corporation (ITFC) supports Senegal’s COVID-19 Plan with EUR 8 Million disbursement for the Private Sector

The financing is aimed at helping Senegal to continue to contribute to economic inclusion by gearing capital towards the private sector

The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has approved a Murabaha Financing of EUR 8 million for the Senegalese bank, Banque Islamique du Sénégal (BIS), to support the Bank’s trade finance operations within Senegal’s private sector. The financing is aimed…

International Islamic Trade Finance Corporation (ITFC)
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Source: International Islamic Trade Finance Corporation (ITFC) |

International Islamic Trade Finance Corporation Signs COVID-19 Emergency Food Package Relief Program for Republic of Kyrgyzstan

ITFC intervention will provide immediate relief to 2,000 families in the most fragile segment of the population during COVID-19 crisis

The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), has signed an agreement to support the provision of a food relief program for the most vulnerable people in Kyrgyzstan during the outbreak of the new coronavirus (COVID-19). The agreement, which has been agreed in coordination with of the Kyrgyzstan Government, will…

International Islamic Trade Finance Corporation (ITFC)
Source: International Islamic Trade Finance Corporation (ITFC) |

International Islamic Trade Finance Corporation extends US$100m COVID-19 Emergency Financing for purchasing wheat and sugar in favor of Egypt

ITFC intervention to help finance essential strategic food commodities in light of the impact of COVID-19

The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), has signed a US$100 million financing agreement with the General Authority for Supply Commodities (GASC) to cover the Egyptian Government’s essential strategic commodity needs during the outbreak of the new coronavirus (COVID-19). The Approval of the financing, which forms part of the…

International Islamic Trade Finance Corporation (ITFC)
Source: International Islamic Trade Finance Corporation (ITFC) |

IsDB and ITFC, under the Reverse Linkage and Arab Africa Trade Bridges Program, Launch E-Learning and Knowledge Sharing Platform for COVID-19 Medical Preparedness and Response in African Countries

The initiative aims firstly to build the capacities of medical staff in African countries on their COVID-19 response protocols and approaches

As part of the crisis response actions to strengthen the capacities of member countries to withstand the socio-economic impact of the COVID-19 pandemic, the Islamic Development Bank (IsDB) and the International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), in coordination with their partners, the Moroccan Society of Anesthesia, Analgesia and Resuscitation…

International Islamic Trade Finance Corporation (ITFC)
Source: International Islamic Trade Finance Corporation (ITFC) |

Arab Africa Trade Bridges (AATB) Program Outlines Actions to Support Developing Countries Cope with the COVID-19 Crisis

Initiatives focusing on pharmaceuticals and healthcare and other value-added sectors such as agriculture and textiles to take precedence

The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), and its partners have approved an AATB Program Action Plan to support African and Arab countries to strengthen their socio-economic resilience in light of the COVID-19 pandemic. In addition to ITFC, the 4th Executive Committee meeting of the AATB Program, held virtually,…

International Islamic Trade Finance Corporation (ITFC)
Source: International Islamic Trade Finance Corporation (ITFC) |

International Islamic Trade Finance Cooperation provides US$850 million for COVID-19 Emergency Interventions for Organization of Islamic Cooperation (OIC) Member Countries in Most Need

Interim funds to be scaled up through close collaboration with strategic partners to offer trade finance and trade development solutions that meet the direct needs of member countries

Societies and economies are being affected by the unprecedented and unpredictable nature of the COVID-19 pandemic. These include a major shift in global trade routes, changes in consumption and extraordinary levels of monetary easing and stimulus packages at a scale never experienced before. The International Islamic Trade Finance Corporation (ITFC)…