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  •  The International Islamic Trade Finance Corporation ITFC www ITFC idb org signs the Annual Plan for 2022 in favor of the Government of Pakistan to provide integrated business solutions to support the energy and agriculture sectors The 1 2 billion deal includes financing for the import of commodities such as crude oil refined petroleum products LNG food and agricultural products in addition to implementing trade related technical assistance intervention to ensure the impact of trade development The Annual Plan was signed during a ceremony at ITFC Headquarters in Jeddah between ITFC and a delegation from the Ministry of Economic Affairs EAD Islamic Republic of Pakistan Referring to the agreement Nazeem Noordali COO ITFC stated that this annual plan reflects the importance of long standing cooperation between the ITFC and the Government of Pakistan financing and capacity building tools to maximize the development impact of ITFC interventions We are delighted and will continue to mobilize financial resources to support Pakistan in its efforts to achieve its economic goals through our existing Framework Agreement For its part the delegation of EAD Pakistan expressed appreciation for the continued support and partnership with ITFC and underscored the need for further cooperation through more efficient processes to further promote Islamic trade finance and trade development interventions in Pakistan Despite a challenging year due to the COVID 19 pandemic ITFC provided around US 1 1 billion in trade finance in 2021 ITFC signed the fourth framework agreement with the Government of Pakistan in June 2021 for US 4 5 billion It is worth mentioning that since 2008 ITFC has provided US 6 7 billion in favor of the Government of Pakistan nbsp
    International Islamic Trade Finance Corporation Signs US$ 1.2 billion Annual Plan for 2022 in favor of the Islamic Republic of Pakistan
     The International Islamic Trade Finance Corporation ITFC www ITFC idb org signs the Annual Plan for 2022 in favor of the Government of Pakistan to provide integrated business solutions to support the energy and agriculture sectors The 1 2 billion deal includes financing for the import of commodities such as crude oil refined petroleum products LNG food and agricultural products in addition to implementing trade related technical assistance intervention to ensure the impact of trade development The Annual Plan was signed during a ceremony at ITFC Headquarters in Jeddah between ITFC and a delegation from the Ministry of Economic Affairs EAD Islamic Republic of Pakistan Referring to the agreement Nazeem Noordali COO ITFC stated that this annual plan reflects the importance of long standing cooperation between the ITFC and the Government of Pakistan financing and capacity building tools to maximize the development impact of ITFC interventions We are delighted and will continue to mobilize financial resources to support Pakistan in its efforts to achieve its economic goals through our existing Framework Agreement For its part the delegation of EAD Pakistan expressed appreciation for the continued support and partnership with ITFC and underscored the need for further cooperation through more efficient processes to further promote Islamic trade finance and trade development interventions in Pakistan Despite a challenging year due to the COVID 19 pandemic ITFC provided around US 1 1 billion in trade finance in 2021 ITFC signed the fourth framework agreement with the Government of Pakistan in June 2021 for US 4 5 billion It is worth mentioning that since 2008 ITFC has provided US 6 7 billion in favor of the Government of Pakistan nbsp
    International Islamic Trade Finance Corporation Signs US$ 1.2 billion Annual Plan for 2022 in favor of the Islamic Republic of Pakistan
    Africa11 months ago

    International Islamic Trade Finance Corporation Signs US$ 1.2 billion Annual Plan for 2022 in favor of the Islamic Republic of Pakistan

    The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-idb.org) signs the Annual Plan for 2022 in favor of the Government of Pakistan, to provide integrated business solutions to support the energy and agriculture sectors. The $1.2 billion deal includes financing for the import of commodities such as crude oil, refined petroleum products, LNG, food and agricultural products; in addition to implementing trade-related technical assistance intervention to ensure the impact of trade development. The Annual Plan was signed during a ceremony at ITFC Headquarters in Jeddah between ITFC and a delegation from the Ministry of Economic Affairs (EAD), Islamic Republic of Pakistan. Referring to the agreement, Nazeem Noordali, COO, ITFC stated that this annual plan reflects the importance of long-standing cooperation between the ITFC and the Government of Pakistan. financing and capacity building tools to maximize the development impact of ITFC interventions. We are delighted and will continue to mobilize financial resources to support Pakistan in its efforts to achieve its economic goals through our existing Framework Agreement." For its part, the delegation of EAD, Pakistan expressed appreciation for the continued support and partnership with ITFC, and underscored the need for further cooperation through more efficient processes to further promote Islamic trade finance and trade development interventions. in Pakistan. Despite a challenging year due to the COVID-19 pandemic, ITFC provided around US$1.1 billion in trade finance in 2021. ITFC signed the fourth framework agreement with the Government of Pakistan in June 2021 for US$4.5 billion. It is worth mentioning that since 2008 ITFC has provided US$6.7 billion in favor of the Government of Pakistan.  

  •   This new partnership with InFinBank highlights our commitment to position the private sector at the center of our work to advance trade and post Covid economic recovery JEDDAH Kingdom of Saudi Arabia January 19 2022 APO Group The International Islamic Trade Finance Corporation ITFC www ITFC idb org signed a trade finance agreement with Invest Finance Bank InFinBank Uzbekistan The US 15 million facility which is the first ITFC Trade Finance Facility to be extended to Invest Finance Bank InFinBank is intended to support the import and pre export financing needs of its clients in Uzbekistan In addition the financing also supports the Bank s quest to expand its Shari ah compliant trade financing offerings The partnership signed by Mr Abdihamid Aweis Abu ITFC Trade Finance General Manager and Mr Bobir Burkhanov InFinBank Chairman of the Board is implemented under the US 500 million Framework Agreement signed between the Republic of Uzbekistan and ITFC Commenting on the agreement Mr Abdihamid said This new partnership with InFinBank highlights our commitment to position the private sector at the center of our work to advance trade and the post Covid economic recovery of our member countries We look forward to building an impactful partnership with InFinBank that will help us contribute to the growing economy of Uzbekistan This is the first of many and we are prepared to do more for the private sector as they hold the key to economic recovery Since joining the ITFC in 2019 Uzbekistan has received commercial finance and development support in key sectors such as agriculture the private sector and SMEs Clients from the private sector and SMEs have been supported under 17 Foreign Trade Financing Lines for a total amount of US 166 million
    ITFC extends US$ 15 Million Line of Trade Financing Facility to Invest Finance Bank
      This new partnership with InFinBank highlights our commitment to position the private sector at the center of our work to advance trade and post Covid economic recovery JEDDAH Kingdom of Saudi Arabia January 19 2022 APO Group The International Islamic Trade Finance Corporation ITFC www ITFC idb org signed a trade finance agreement with Invest Finance Bank InFinBank Uzbekistan The US 15 million facility which is the first ITFC Trade Finance Facility to be extended to Invest Finance Bank InFinBank is intended to support the import and pre export financing needs of its clients in Uzbekistan In addition the financing also supports the Bank s quest to expand its Shari ah compliant trade financing offerings The partnership signed by Mr Abdihamid Aweis Abu ITFC Trade Finance General Manager and Mr Bobir Burkhanov InFinBank Chairman of the Board is implemented under the US 500 million Framework Agreement signed between the Republic of Uzbekistan and ITFC Commenting on the agreement Mr Abdihamid said This new partnership with InFinBank highlights our commitment to position the private sector at the center of our work to advance trade and the post Covid economic recovery of our member countries We look forward to building an impactful partnership with InFinBank that will help us contribute to the growing economy of Uzbekistan This is the first of many and we are prepared to do more for the private sector as they hold the key to economic recovery Since joining the ITFC in 2019 Uzbekistan has received commercial finance and development support in key sectors such as agriculture the private sector and SMEs Clients from the private sector and SMEs have been supported under 17 Foreign Trade Financing Lines for a total amount of US 166 million
    ITFC extends US$ 15 Million Line of Trade Financing Facility to Invest Finance Bank
    Africa1 year ago

    ITFC extends US$ 15 Million Line of Trade Financing Facility to Invest Finance Bank

    This new partnership with InFinBank highlights our commitment to position the private sector at the center of our work to advance trade and post-Covid economic recovery.

    JEDDAH, Kingdom of Saudi Arabia, January 19, 2022/APO Group/ --

    The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-idb.org) signed a trade finance agreement with Invest Finance Bank (InFinBank), Uzbekistan. The US$15 million facility, which is the first ITFC Trade Finance Facility to be extended to Invest Finance Bank (InFinBank), is intended to support the import and pre-export financing needs of its clients in Uzbekistan. In addition, the financing also supports the Bank's quest to expand its Shari'ah-compliant trade financing offerings.

    The partnership, signed by Mr. Abdihamid Aweis Abu, ITFC Trade Finance General Manager and Mr. Bobir Burkhanov, InFinBank Chairman of the Board, is implemented under the US$500 million Framework Agreement, signed between the Republic of Uzbekistan and ITFC.

    Commenting on the agreement, Mr. Abdihamid said: “This new partnership with InFinBank highlights our commitment to position the private sector at the center of our work to advance trade and the post-Covid economic recovery of our member countries. We look forward to building an impactful partnership with InFinBank that will help us contribute to the growing economy of Uzbekistan. This is the first of many and we are prepared to do more for the private sector, as they hold the key to economic recovery."

    Since joining the ITFC in 2019, Uzbekistan has received commercial finance and development support in key sectors such as agriculture, the private sector and SMEs. Clients from the private sector and SMEs have been supported under 17 Foreign Trade Financing Lines for a total amount of US$166 million.

  •   We are focused on supporting the private sector especially SMEs in their post Covid recovery JEDDAH Kingdom of Saudi Arabia January 18 2022 APO Group The International Islamic Trade Finance Corporation ITFC www ITFC idb org signed a trade finance agreement with the Industrial and Construction Bank of Uzbek for a total amount of US 15 million This will provide the Uzbek Industrial and Construction Bank with the necessary financing to meet the growing demand for Shari ah compliant business finance from its private sector clients including SMEs This is the second line of the Commercial Financing Facility extended by ITFC to the Industrial and Construction Bank of Uzbekistan which is a long standing partner of ITFC in Uzbekistan The first line was extended in 2018 for US 15 million which was used successfully by the Bank This financing is implemented under the US 500 million Framework Agreement signed between the Republic of Uzbekistan and the ITFC with the support of the private sector as one of the main areas of cooperation indicated in the Framework Agreement This facility will aim to support the import and pre export financing needs of the private sector including SMEs in Uzbekistan Since joining the ITFC in 2019 Uzbekistan has received trade finance and development support in key sectors including agriculture the private sector and SMEs Private sector clients and SMEs have been supported under 17 trade finance lines for a total amount of US 166 million Mr Abdihamid Aweis Abu General Manager Trade Finance signed the partnership on behalf of ITFC with Mr Shukhrat Yakubov Deputy Chairman of the Board of Directors of the Construction and Industrial Bank of Uzbek Commenting on the deal Mr Abdihamid said This new agreement reaffirms ITFC s commitment to its long standing partnership with the Construction and Industrial Bank of Uzbek and we are confident in the good prospects of our working relationship with the bank We are focused on supporting the private sector especially SMEs in their post Covid recovery
    ITFC extends US Million Line of Financing Facility to Uzbek Industrial and Construction Bank
      We are focused on supporting the private sector especially SMEs in their post Covid recovery JEDDAH Kingdom of Saudi Arabia January 18 2022 APO Group The International Islamic Trade Finance Corporation ITFC www ITFC idb org signed a trade finance agreement with the Industrial and Construction Bank of Uzbek for a total amount of US 15 million This will provide the Uzbek Industrial and Construction Bank with the necessary financing to meet the growing demand for Shari ah compliant business finance from its private sector clients including SMEs This is the second line of the Commercial Financing Facility extended by ITFC to the Industrial and Construction Bank of Uzbekistan which is a long standing partner of ITFC in Uzbekistan The first line was extended in 2018 for US 15 million which was used successfully by the Bank This financing is implemented under the US 500 million Framework Agreement signed between the Republic of Uzbekistan and the ITFC with the support of the private sector as one of the main areas of cooperation indicated in the Framework Agreement This facility will aim to support the import and pre export financing needs of the private sector including SMEs in Uzbekistan Since joining the ITFC in 2019 Uzbekistan has received trade finance and development support in key sectors including agriculture the private sector and SMEs Private sector clients and SMEs have been supported under 17 trade finance lines for a total amount of US 166 million Mr Abdihamid Aweis Abu General Manager Trade Finance signed the partnership on behalf of ITFC with Mr Shukhrat Yakubov Deputy Chairman of the Board of Directors of the Construction and Industrial Bank of Uzbek Commenting on the deal Mr Abdihamid said This new agreement reaffirms ITFC s commitment to its long standing partnership with the Construction and Industrial Bank of Uzbek and we are confident in the good prospects of our working relationship with the bank We are focused on supporting the private sector especially SMEs in their post Covid recovery
    ITFC extends US Million Line of Financing Facility to Uzbek Industrial and Construction Bank
    Africa1 year ago

    ITFC extends US $15 Million Line of Financing Facility to Uzbek Industrial and Construction Bank

    We are focused on supporting the private sector, especially SMEs in their post-Covid recovery

    JEDDAH, Kingdom of Saudi Arabia, January 18, 2022/APO Group/ --

    The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-idb.org), signed a trade finance agreement with the Industrial and Construction Bank of Uzbek for a total amount of US$15 million. This will provide the Uzbek Industrial and Construction Bank with the necessary financing to meet the growing demand for Shari'ah-compliant business finance from its private sector clients, including SMEs.

    This is the second line of the Commercial Financing Facility extended by ITFC to the Industrial and Construction Bank of Uzbekistan, which is a long-standing partner of ITFC in Uzbekistan. The first line was extended in 2018 for US$15 million, which was used successfully by the Bank.

    This financing is implemented under the US$500 million Framework Agreement signed between the Republic of Uzbekistan and the ITFC, with the support of the private sector as one of the main areas of cooperation indicated in the Framework Agreement. This facility will aim to support the import and pre-export financing needs of the private sector, including SMEs, in Uzbekistan.

    Since joining the ITFC in 2019, Uzbekistan has received trade finance and development support in key sectors, including agriculture, the private sector and SMEs. Private sector clients and SMEs have been supported under 17 trade finance lines for a total amount of US$166 million. .

    Mr. Abdihamid Aweis Abu, General Manager, Trade Finance signed the partnership on behalf of ITFC with Mr. Shukhrat Yakubov, Deputy Chairman of the Board of Directors of the Construction and Industrial Bank of Uzbek.

    Commenting on the deal, Mr. Abdihamid said: “This new agreement reaffirms ITFC's commitment to its long-standing partnership with the Construction and Industrial Bank of Uzbek and we are confident in the good prospects of our working relationship with the bank. . We are focused on supporting the private sector, especially SMEs in their post-Covid recovery. ..”

  •   Encouraging and financing trade development ultimately contributes to ITFC s overarching goal of improving the socio economic conditions of people around the world JEDDAH Kingdom of Saudi Arabia January 13 2022 APO Group The International Islamic Trade Finance Corporation ITFC www ITFC idb org has emerged at the top of the Bloomberg Islamic Finance League 2021 Charts as a world leader as Bookrunner and Mandated Lead Arranger MLA The 2021 Global Islamic Finance League Charts released by Bloomberg showed that ITFC is the best book broker and MLA ahead of international and regional banks The assessment recognizes the Corporation s leadership role in mobilizing resources globally from a wide range of investors and financial institutions for the financing needs of Organization for Islamic Cooperation OIC member countries and demonstrates the potential for Impact on the market of the ITFC financing model ITFC reported a funding transaction volume of more than 5 23 billion worldwide with a market share of 21 2 as Bookrunner and 18 6 as MLA Commenting on the ranking ITFC CEO Eng Hani Salem Sonbol said We are honored to be ranked at the top of the Bloomberg 2021 Islamic Finance League table as a leading book broker and mandatory lead organizer These rankings demonstrate the ITFC team s commitment to being a catalyst for the development of trade among OIC member countries Encouraging and financing trade development ultimately contributes to ITFC s overarching goal of improving the socio economic conditions of people around the world Given how difficult 2021 was for the global economy we are very pleased that ITFC has continued to provide significant strategic support to our member countries in this difficult environment and we look forward to 2022 with great optimism For this milestone I would like to express my sincere thanks and appreciation to our syndicated partners for their continued confidence in ITFC s role in leading these many syndicated funding deals The Bloomberg leaderboards published quarterly and annually classify banks and financial institutions into different categories namely organizers book brokers managing agents and advisers in various transactions including loans bonds and merger activities and acquisitions
    International Islamic Trade Finance Corporation (ITFC) Tops Bloomberg 2021 Global Islamic Financing League Tables as #1 Bookrunner and Mandated Lead Arranger
      Encouraging and financing trade development ultimately contributes to ITFC s overarching goal of improving the socio economic conditions of people around the world JEDDAH Kingdom of Saudi Arabia January 13 2022 APO Group The International Islamic Trade Finance Corporation ITFC www ITFC idb org has emerged at the top of the Bloomberg Islamic Finance League 2021 Charts as a world leader as Bookrunner and Mandated Lead Arranger MLA The 2021 Global Islamic Finance League Charts released by Bloomberg showed that ITFC is the best book broker and MLA ahead of international and regional banks The assessment recognizes the Corporation s leadership role in mobilizing resources globally from a wide range of investors and financial institutions for the financing needs of Organization for Islamic Cooperation OIC member countries and demonstrates the potential for Impact on the market of the ITFC financing model ITFC reported a funding transaction volume of more than 5 23 billion worldwide with a market share of 21 2 as Bookrunner and 18 6 as MLA Commenting on the ranking ITFC CEO Eng Hani Salem Sonbol said We are honored to be ranked at the top of the Bloomberg 2021 Islamic Finance League table as a leading book broker and mandatory lead organizer These rankings demonstrate the ITFC team s commitment to being a catalyst for the development of trade among OIC member countries Encouraging and financing trade development ultimately contributes to ITFC s overarching goal of improving the socio economic conditions of people around the world Given how difficult 2021 was for the global economy we are very pleased that ITFC has continued to provide significant strategic support to our member countries in this difficult environment and we look forward to 2022 with great optimism For this milestone I would like to express my sincere thanks and appreciation to our syndicated partners for their continued confidence in ITFC s role in leading these many syndicated funding deals The Bloomberg leaderboards published quarterly and annually classify banks and financial institutions into different categories namely organizers book brokers managing agents and advisers in various transactions including loans bonds and merger activities and acquisitions
    International Islamic Trade Finance Corporation (ITFC) Tops Bloomberg 2021 Global Islamic Financing League Tables as #1 Bookrunner and Mandated Lead Arranger
    Africa1 year ago

    International Islamic Trade Finance Corporation (ITFC) Tops Bloomberg 2021 Global Islamic Financing League Tables as #1 Bookrunner and Mandated Lead Arranger

    Encouraging and financing trade development ultimately contributes to ITFC's overarching goal of improving the socio-economic conditions of people around the world.

    JEDDAH, Kingdom of Saudi Arabia, January 13, 2022 / APO Group / -

    The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-idb.org) has emerged at the top of the Bloomberg Islamic Finance League 2021 Charts as a world leader as Bookrunner and Mandated Lead Arranger (MLA).

    The 2021 Global Islamic Finance League Charts released by Bloomberg showed that ITFC is the best book broker and MLA ahead of international and regional banks. The assessment recognizes the Corporation's leadership role in mobilizing resources globally from a wide range of investors and financial institutions for the financing needs of Organization for Islamic Cooperation (OIC) member countries and demonstrates the potential for Impact on the market of the ITFC financing model.

    ITFC reported a funding transaction volume of more than $ 5.23 billion worldwide, with a market share of 21.2% as Bookrunner and 18.6% as MLA.

    Commenting on the ranking, ITFC CEO Eng. Hani Salem Sonbol said: “We are honored to be ranked at the top of the Bloomberg 2021 Islamic Finance League table as a leading book broker and mandatory lead organizer. These rankings demonstrate the ITFC team's commitment to being a catalyst for the development of trade among OIC member countries. Encouraging and financing trade development ultimately contributes to ITFC's overarching goal of improving the socio-economic conditions of people around the world. Given how difficult 2021 was for the global economy, we are very pleased that ITFC has continued to provide significant strategic support to our member countries in this difficult environment and we look forward to 2022 with great optimism. For this milestone I would like to express my sincere thanks and appreciation to our syndicated partners for their continued confidence in ITFC's role in leading these many syndicated funding deals. "

    The Bloomberg leaderboards, published quarterly and annually, classify banks and financial institutions into different categories, namely organizers, book brokers, managing agents, and advisers in various transactions, including loans, bonds, and merger activities. and acquisitions.

  •   Experts shed light on the role of the IsDB Group in supporting the trade and investment processes of OIC member countries DUBAI United Arab Emirates January 12 2022 APO Group The private sector entities of the Islamic Development Bank Group IsDB Group IsDB org namely the Islamic Corporation for the Insurance of Investments and Export Credits ICIEC the Islamic Corporation for the Development of the Sector Private ICD and the International Islamic Trade Finance Corporation ITFC in collaboration with the IsDB Group Business Forum THIQAH and the Annual Investment Meeting AIM organized a Trade and Investment event in the Egyptian Pavilion Expo 2020 in Dubai UAE on January 11 2022 under the theme Strengthening trade and investment in OIC member countries The event drew on the IsDB Group s efforts to eradicate poverty through its initiatives and inclusion in the fight against COVID 19 to discuss opportunities in promoting trade and investment in its member countries in times of economic conditions unstable Private sector entities ICIEC ICD and ITFC seek to ensure the continued economic growth of their member countries and aims to improve the lives of the communities they serve The panel held during the event was comprised of expert speakers from the IsDB Group s private sector entities and attracted entrepreneurs to Dubai Expo 2020 The experts shed light on the IsDB Group s role in supporting trade and investment of the member countries of the OCI processes especially in volatile markets and unstable economic ecosystems They also shared related experiences best practices and success stories based on the specializations of their respective entities as well as jointly explored investment and trade opportunities ICIEC highlighted its role in promoting trade and investment opportunities for OCI member countries as it plays a fundamental role in the deployment of risk management tools to mitigate the adverse impacts of economic crises emanating from various sources including pandemics The ICD also emphasized its role in building a resilient and competitive private sector thus contributing greatly to the economic stability of OIC member countries In addition ITFC emphasized its critical role in introducing OCI member countries to international financial markets by providing integrated business solutions to shift the industry to acceptance of a wide range of innovative solutions
    Strengthening Trade and Investment in Organisation of Islamic Cooperation (OIC) Member Countries
      Experts shed light on the role of the IsDB Group in supporting the trade and investment processes of OIC member countries DUBAI United Arab Emirates January 12 2022 APO Group The private sector entities of the Islamic Development Bank Group IsDB Group IsDB org namely the Islamic Corporation for the Insurance of Investments and Export Credits ICIEC the Islamic Corporation for the Development of the Sector Private ICD and the International Islamic Trade Finance Corporation ITFC in collaboration with the IsDB Group Business Forum THIQAH and the Annual Investment Meeting AIM organized a Trade and Investment event in the Egyptian Pavilion Expo 2020 in Dubai UAE on January 11 2022 under the theme Strengthening trade and investment in OIC member countries The event drew on the IsDB Group s efforts to eradicate poverty through its initiatives and inclusion in the fight against COVID 19 to discuss opportunities in promoting trade and investment in its member countries in times of economic conditions unstable Private sector entities ICIEC ICD and ITFC seek to ensure the continued economic growth of their member countries and aims to improve the lives of the communities they serve The panel held during the event was comprised of expert speakers from the IsDB Group s private sector entities and attracted entrepreneurs to Dubai Expo 2020 The experts shed light on the IsDB Group s role in supporting trade and investment of the member countries of the OCI processes especially in volatile markets and unstable economic ecosystems They also shared related experiences best practices and success stories based on the specializations of their respective entities as well as jointly explored investment and trade opportunities ICIEC highlighted its role in promoting trade and investment opportunities for OCI member countries as it plays a fundamental role in the deployment of risk management tools to mitigate the adverse impacts of economic crises emanating from various sources including pandemics The ICD also emphasized its role in building a resilient and competitive private sector thus contributing greatly to the economic stability of OIC member countries In addition ITFC emphasized its critical role in introducing OCI member countries to international financial markets by providing integrated business solutions to shift the industry to acceptance of a wide range of innovative solutions
    Strengthening Trade and Investment in Organisation of Islamic Cooperation (OIC) Member Countries
    Africa1 year ago

    Strengthening Trade and Investment in Organisation of Islamic Cooperation (OIC) Member Countries

    Experts shed light on the role of the IsDB Group in supporting the trade and investment processes of OIC member countries

    DUBAI, United Arab Emirates, January 12, 2022 / APO Group / -

    The private sector entities of the Islamic Development Bank Group (IsDB Group) (IsDB.org), namely the Islamic Corporation for the Insurance of Investments and Export Credits (ICIEC), the Islamic Corporation for the Development of the Sector Private (ICD), and the International Islamic Trade Finance Corporation (ITFC) in collaboration with the IsDB Group Business Forum (THIQAH) and the Annual Investment Meeting (AIM) organized a Trade and Investment event in the Egyptian Pavilion, Expo 2020 in Dubai - UAE on January 11, 2022 under the theme: “Strengthening trade and investment in OIC member countries”.

    The event drew on the IsDB Group's efforts to eradicate poverty through its initiatives and inclusion in the fight against COVID-19 to discuss opportunities in promoting trade and investment in its member countries in times of economic conditions. unstable. Private sector entities (ICIEC, ICD and ITFC) seek to ensure the continued economic growth of their member countries and aims to improve the lives of the communities they serve.

    The panel, held during the event, was comprised of expert speakers from the IsDB Group's private sector entities and attracted entrepreneurs to Dubai Expo 2020. The experts shed light on the IsDB Group's role in supporting trade and investment of the member countries of the OCI. processes especially in volatile markets and unstable economic ecosystems. They also shared related experiences, best practices and success stories based on the specializations of their respective entities, as well as jointly explored investment and trade opportunities.

    ICIEC highlighted its role in promoting trade and investment opportunities for OCI member countries, as it plays a fundamental role in the deployment of risk management tools to mitigate the adverse impacts of economic crises emanating from various sources, including pandemics. The ICD also emphasized its role in building a resilient and competitive private sector, thus contributing greatly to the economic stability of OIC member countries. In addition, ITFC emphasized its critical role in introducing OCI member countries to international financial markets by providing integrated business solutions to shift the industry to acceptance of a wide range of innovative solutions.

  •   When you walk through the camps you see malnourished children people collecting dirty flood water to drink collapsing cattle and their corpses everywhere GENEVA Switzerland January 7 2022 APO Group When floodwaters began to rise in their village 21 year old Nyabeel and her husband did not know what to do Leaving their land on which they depended for food was a difficult decision We spent three days moving It was a challenge with four children and a herd of goats he says Eight months after the floods began people in Unity State in northern South Sudan continue to suffer trapped in poor living conditions and at risk of outbreaks of infectious and water borne diseases Spread out in various makeshift camps they face food insecurity loss of income malnutrition and lack of clean water An estimated 835 000 people have been affected In his village Nyabeel had depended on cultivating his land and the milk of his goats for food We had a more stable life than here now we eat one meal a day of corn Nyabeel had brought her one year old son to the MSF mobile clinic in Kuermendoke camp Rubkona city for treatment for severe malnutrition and essential vaccinations Kuermendoke is one of three camps that have a high percentage of children under the age of five who suffer from severe acute malnutrition Our nutritional survey showed that the prevalence of severe acute malnutrition in the camps is well above the WHO emergency threshold of 2 says Dr Reza Eshaghian leader of MSF s emergency flood response medical team The impact of the floods is palpable says Dr Eshaghian When you walk through the camps you see malnourished children people collecting dirty flood water to drink collapsing cattle and their corpses everywhere These bad conditions are damaging people s health Initial FAO studies suggest that some 65 000 hectares of cultivated land have been damaged by the floods while more than 800 000 head of livestock died in eight of the 10 states of South Sudan Having lost so much livestock many displaced women are turning to firewood gathering to generate income However increases in food prices make it more difficult for displaced people to obtain food With an 80 increase in admissions to the Inpatient Therapeutic Feeding Center ITFC MSF has opened a third ITFC ward at its hospital in the Bentiu IDP camp MSF teams are also running mobile clinics visiting camps in and around Mayom Bentiu and Rubkona region responding to malaria malnutrition and acute watery diarrhea For most of the displaced it is almost impossible to find safe drinking water Our only source of water for drinking cooking and washing is flood water says Nyapal a mother of four Before the floods around Bentiu the sanitation facilities in the IDP camp were already in critical condition and rarely maintained For a time the floods prevented access to the waste treatment ponds This led to an accumulation of sewage in the camp latrines which then overflowed into the open sewage channels where the children often play says Cawo Yassin Ali leader of the water and sanitation team of the MSF emergency team deployed for flood response To reduce the risk of outbreaks MSF has installed a sewage treatment plant within the camp to contain and treat fecal waste With water levels slowly beginning to drop around Bentiu it is still unclear when Nyabeel Nyapal and thousands of other displaced people will be able to return home We have nothing here we arrived empty handed the town is covered in water and we don t know when it will dry up says Nyabeel Until people can return to their homes they will be forced to continue living in such precarious conditions This poses an additional challenge for humanitarian actors requiring them not to lose sight of responding to immediate needs while recognizing the protracted nature of this crisis and meeting corresponding standards beyond the initial emergency threshold There are immense needs including the need for adequate shelter clean water and sanitation infrastructure quality health care food security and support for livelihoods Humanitarians donors and the Government of South Sudan must act now before it is too late They can t afford to wait any longer says Dr Eshaghian
    South Sudan: hundreds of thousands still living in precarious conditions months after floods
      When you walk through the camps you see malnourished children people collecting dirty flood water to drink collapsing cattle and their corpses everywhere GENEVA Switzerland January 7 2022 APO Group When floodwaters began to rise in their village 21 year old Nyabeel and her husband did not know what to do Leaving their land on which they depended for food was a difficult decision We spent three days moving It was a challenge with four children and a herd of goats he says Eight months after the floods began people in Unity State in northern South Sudan continue to suffer trapped in poor living conditions and at risk of outbreaks of infectious and water borne diseases Spread out in various makeshift camps they face food insecurity loss of income malnutrition and lack of clean water An estimated 835 000 people have been affected In his village Nyabeel had depended on cultivating his land and the milk of his goats for food We had a more stable life than here now we eat one meal a day of corn Nyabeel had brought her one year old son to the MSF mobile clinic in Kuermendoke camp Rubkona city for treatment for severe malnutrition and essential vaccinations Kuermendoke is one of three camps that have a high percentage of children under the age of five who suffer from severe acute malnutrition Our nutritional survey showed that the prevalence of severe acute malnutrition in the camps is well above the WHO emergency threshold of 2 says Dr Reza Eshaghian leader of MSF s emergency flood response medical team The impact of the floods is palpable says Dr Eshaghian When you walk through the camps you see malnourished children people collecting dirty flood water to drink collapsing cattle and their corpses everywhere These bad conditions are damaging people s health Initial FAO studies suggest that some 65 000 hectares of cultivated land have been damaged by the floods while more than 800 000 head of livestock died in eight of the 10 states of South Sudan Having lost so much livestock many displaced women are turning to firewood gathering to generate income However increases in food prices make it more difficult for displaced people to obtain food With an 80 increase in admissions to the Inpatient Therapeutic Feeding Center ITFC MSF has opened a third ITFC ward at its hospital in the Bentiu IDP camp MSF teams are also running mobile clinics visiting camps in and around Mayom Bentiu and Rubkona region responding to malaria malnutrition and acute watery diarrhea For most of the displaced it is almost impossible to find safe drinking water Our only source of water for drinking cooking and washing is flood water says Nyapal a mother of four Before the floods around Bentiu the sanitation facilities in the IDP camp were already in critical condition and rarely maintained For a time the floods prevented access to the waste treatment ponds This led to an accumulation of sewage in the camp latrines which then overflowed into the open sewage channels where the children often play says Cawo Yassin Ali leader of the water and sanitation team of the MSF emergency team deployed for flood response To reduce the risk of outbreaks MSF has installed a sewage treatment plant within the camp to contain and treat fecal waste With water levels slowly beginning to drop around Bentiu it is still unclear when Nyabeel Nyapal and thousands of other displaced people will be able to return home We have nothing here we arrived empty handed the town is covered in water and we don t know when it will dry up says Nyabeel Until people can return to their homes they will be forced to continue living in such precarious conditions This poses an additional challenge for humanitarian actors requiring them not to lose sight of responding to immediate needs while recognizing the protracted nature of this crisis and meeting corresponding standards beyond the initial emergency threshold There are immense needs including the need for adequate shelter clean water and sanitation infrastructure quality health care food security and support for livelihoods Humanitarians donors and the Government of South Sudan must act now before it is too late They can t afford to wait any longer says Dr Eshaghian
    South Sudan: hundreds of thousands still living in precarious conditions months after floods
    Africa1 year ago

    South Sudan: hundreds of thousands still living in precarious conditions months after floods

    When you walk through the camps, you see malnourished children, people collecting dirty flood water to drink, collapsing cattle and their corpses everywhere.

    GENEVA, Switzerland, January 7, 2022 / APO Group / -

    When floodwaters began to rise in their village, 21-year-old Nyabeel * and her husband did not know what to do. Leaving their land, on which they depended for food, was a difficult decision. “We spent three days moving. It was a challenge, with four children and a herd of goats, "he says.

    Eight months after the floods began, people in Unity State in northern South Sudan continue to suffer, trapped in poor living conditions and at risk of outbreaks of infectious and water-borne diseases. Spread out in various makeshift camps, they face food insecurity, loss of income, malnutrition and lack of clean water. An estimated 835,000 people have been affected.

    In his village, Nyabeel had depended on cultivating his land and the milk of his goats for food. "We had a more stable life than here, now we eat one meal a day of corn." Nyabeel had brought her one-year-old son to the MSF mobile clinic in Kuermendoke camp, Rubkona city, for treatment for severe malnutrition and essential vaccinations. Kuermendoke is one of three camps that have a high percentage of children under the age of five who suffer from severe acute malnutrition. "Our nutritional survey showed that the prevalence of severe acute malnutrition in the camps is well above the WHO emergency threshold of 2%," says Dr. Reza Eshaghian, leader of MSF's emergency flood response medical team. .

    The impact of the floods is palpable, says Dr. Eshaghian. “When you walk through the camps, you see malnourished children, people collecting dirty flood water to drink, collapsing cattle and their corpses everywhere. These bad conditions are damaging people's health ”.

    Initial FAO studies suggest that some 65,000 hectares of cultivated land have been damaged by the floods, while more than 800,000 head of livestock died in eight of the 10 states of South Sudan. Having lost so much livestock, many displaced women are turning to firewood gathering to generate income. However, increases in food prices make it more difficult for displaced people to obtain food.

    With an 80% increase in admissions to the Inpatient Therapeutic Feeding Center (ITFC), MSF has opened a third ITFC ward at its hospital in the Bentiu IDP camp. MSF teams are also running mobile clinics visiting camps in and around Mayom, Bentiu and Rubkona region, responding to malaria, malnutrition and acute watery diarrhea.

    For most of the displaced, it is almost impossible to find safe drinking water. “Our only source of water for drinking, cooking and washing is flood water,” says Nyapal, a mother of four.

    Before the floods around Bentiu, the sanitation facilities in the IDP camp were already in critical condition and rarely maintained. “For a time, the floods prevented access to the waste treatment ponds. This led to an accumulation of sewage in the camp latrines, which then overflowed into the open sewage channels, where the children often play, ”says Cawo Yassin Ali, leader of the water and sanitation team of the MSF emergency team. deployed for flood response. To reduce the risk of outbreaks, MSF has installed a sewage treatment plant within the camp to contain and treat fecal waste.

    With water levels slowly beginning to drop around Bentiu, it is still unclear when Nyabeel, Nyapal and thousands of other displaced people will be able to return home. "We have nothing here, we arrived empty-handed, the town is covered in water and we don't know when it will dry up," says Nyabeel.

    Until people can return to their homes, they will be forced to continue living in such precarious conditions. This poses an additional challenge for humanitarian actors, requiring them not to lose sight of responding to immediate needs, while recognizing the protracted nature of this crisis and meeting corresponding standards beyond the initial emergency threshold.

    “There are immense needs, including the need for adequate shelter, clean water and sanitation infrastructure, quality health care, food security and support for livelihoods. Humanitarians, donors and the Government of South Sudan must act now before it is too late. They can't afford to wait any longer, ”says Dr. Eshaghian.

  •   The development of trade and economic relations at the regional and global levels as well as support to the private sector are among the main priorities of the Government of Turkmenistan JEDDAH Kingdom of Saudi Arabia December 23 2021 APO Group The International Islamic Trade Finance Corporation ITFC www ITFC idb org signed a Framework Agreement for 150 million with the Government of Turkmenistan The event took place virtually on December 22 2021 with Eng Hani Salem Sonbol Executive Director of ITFC and HE Mr Rahimberdi Jepbarov Chairman of the Board Turkmenistan State Bank for Foreign Economic Affairs and Governor of IsDB for Turkmenistan signed by ITFC and the Government of Turkmenistan respectively This follows the approval of Turkmenistan s membership application to join ITFC at the last ITFC General Assembly in September 2021 held during the annual meeting of the IsDB Group The framework agreement covers bilateral cooperation in the areas of commercial financing for the importation of essential commodities support for the agricultural and textile sectors providing access to financing for the private sector especially SMEs and support for commercial promotion trade capacity building and trade cooperation in Turkmenistan in accordance with national economic priorities and the country s development plan Commenting on the signing Eng Hani Salem Sonbol CEO of ITFC said ITFC remains firmly committed to supporting the socio economic development of our member countries and this Framework Agreement is a step in that direction Our support will span several priority sectors of the Turkmenistan economy with a particular focus on recovery from the post COVID19 pandemic business capacity building and financing lines for SMEs For his part Mr Rahimberdi Jepbarov Chairman of the Board of the State Bank for Foreign Economic Affairs of Turkmenistan and Governor of the IsDB for Turkmenistan added The development of economic and trade relations at the regional and global levels as well as the support to the private sector are one of the top priorities of the Government of Turkmenistan and we consider membership in ITFC to be a good platform to enhance internal and intra regional business activity and enable our private sector to grow at a faster pace We are pleased to be ITFS member as it offers us new opportunities in the trade
    ITFC Signs a US$ 150 Million three-year Framework Agreement with the Government of Turkmenistan
      The development of trade and economic relations at the regional and global levels as well as support to the private sector are among the main priorities of the Government of Turkmenistan JEDDAH Kingdom of Saudi Arabia December 23 2021 APO Group The International Islamic Trade Finance Corporation ITFC www ITFC idb org signed a Framework Agreement for 150 million with the Government of Turkmenistan The event took place virtually on December 22 2021 with Eng Hani Salem Sonbol Executive Director of ITFC and HE Mr Rahimberdi Jepbarov Chairman of the Board Turkmenistan State Bank for Foreign Economic Affairs and Governor of IsDB for Turkmenistan signed by ITFC and the Government of Turkmenistan respectively This follows the approval of Turkmenistan s membership application to join ITFC at the last ITFC General Assembly in September 2021 held during the annual meeting of the IsDB Group The framework agreement covers bilateral cooperation in the areas of commercial financing for the importation of essential commodities support for the agricultural and textile sectors providing access to financing for the private sector especially SMEs and support for commercial promotion trade capacity building and trade cooperation in Turkmenistan in accordance with national economic priorities and the country s development plan Commenting on the signing Eng Hani Salem Sonbol CEO of ITFC said ITFC remains firmly committed to supporting the socio economic development of our member countries and this Framework Agreement is a step in that direction Our support will span several priority sectors of the Turkmenistan economy with a particular focus on recovery from the post COVID19 pandemic business capacity building and financing lines for SMEs For his part Mr Rahimberdi Jepbarov Chairman of the Board of the State Bank for Foreign Economic Affairs of Turkmenistan and Governor of the IsDB for Turkmenistan added The development of economic and trade relations at the regional and global levels as well as the support to the private sector are one of the top priorities of the Government of Turkmenistan and we consider membership in ITFC to be a good platform to enhance internal and intra regional business activity and enable our private sector to grow at a faster pace We are pleased to be ITFS member as it offers us new opportunities in the trade
    ITFC Signs a US$ 150 Million three-year Framework Agreement with the Government of Turkmenistan
    Africa1 year ago

    ITFC Signs a US$ 150 Million three-year Framework Agreement with the Government of Turkmenistan

    The development of trade and economic relations at the regional and global levels, as well as support to the private sector, are among the main priorities of the Government of Turkmenistan.

    JEDDAH, Kingdom of Saudi Arabia, December 23, 2021 / APO Group / -

    The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-idb.org) signed a Framework Agreement for $ 150 million with the Government of Turkmenistan. The event took place virtually on December 22, 2021 with Eng. Hani Salem Sonbol, Executive Director of ITFC and HE Mr. Rahimberdi Jepbarov, Chairman of the Board, Turkmenistan State Bank for Foreign Economic Affairs and Governor of IsDB for Turkmenistan signed by ITFC and the Government of Turkmenistan, respectively. This follows the approval of Turkmenistan's membership application to join ITFC at the last ITFC General Assembly in September 2021 held during the annual meeting of the IsDB Group.

    The framework agreement covers bilateral cooperation in the areas of commercial financing for the importation of essential commodities, support for the agricultural and textile sectors, providing access to financing for the private sector, especially SMEs, and support for commercial promotion, trade capacity building and trade. cooperation in Turkmenistan in accordance with national economic priorities and the country's development plan.

    Commenting on the signing, Eng. Hani Salem Sonbol, CEO of ITFC said: “ITFC remains firmly committed to supporting the socio-economic development of our member countries and this Framework Agreement is a step in that direction. Our support will span several priority sectors of the Turkmenistan economy, with a particular focus on recovery from the post-COVID19 pandemic, business capacity building and financing lines for SMEs. "

    For his part, Mr. Rahimberdi Jepbarov, Chairman of the Board of the State Bank for Foreign Economic Affairs of Turkmenistan and Governor of the IsDB for Turkmenistan, added: "The development of economic and trade relations at the regional and global levels, as well as the support to the private sector are one of the top priorities of the Government of Turkmenistan and we consider membership in ITFC to be a good platform to enhance internal and intra-regional business activity and enable our private sector to grow at a faster pace. We are pleased to be ITFS member as it offers us new opportunities in the trade. "

  •   This documentary continues to confirm that the path to socio economic recovery passes through structured and strategic interventions to support sustainable agricultural production DAKAR Senegal December 13 2021 APO Group The International Islamic Trade Finance Corporation ITFC www ITFC idb org will release a series of four 4 short documentaries showing the depth of ITFC s interventions in the groundnut sector in Senegal Called The ITFC Groundnut Project Full Cycle the documentary will air on Africanews from December 16 31 2021 and on Afrique Media TV from December 16 24 2021 and will also be featured on ITFC s social media platforms Over the years ITFC has established and consolidated a strategic partnership with the Soci t Nationale de Commercialization des Ol agineux SONACOS the peanut oil processing company in Senegal with support ranging from financing the purchase of peanuts from local farming communities processing peanut oil for export and acquiring laboratory analysis equipment for SONACOS ITFC s intervention has been crucial in making funds available in a timely manner ensuring there are no supply chain disruptions Since peanuts are the main source of income for most farmers in Senegal and the country s main agricultural export ITFC s partnership with SONACOS has a direct impact not only on agricultural and rural communities but also on the economy national in general ITFC is providing 47 2 million in financing to the sector for this crop season which is expected to increase in the coming years This figure brings the total funding allocated to this sector in Senegal to US 380 2 million since the creation of ITFC in 2008 Commenting on the series launch ITFC CEO Eng Hani Salem Sonbol said One of our strategic focuses at ITFC is the agricultural sector and working together with member countries to drive the sector forward is at the heart of our interventions post covid recovery We are well aware that one of the sectors most affected by the pandemic is the agricultural sector and most importantly small farmers and rural communities This documentary continues to confirm that the path to socio economic recovery passes through structured and strategic interventions to support sustainable agricultural production and the ITFC remains firmly committed to this goal especially in the Sub Saharan Africa region Watch ITFC s White Gold series on Africanews and Afrique Media TV
    The International Islamic Trade Finance Corporation Launches Four-Part Documentary Series on Senegal’s Groundnut Sector
      This documentary continues to confirm that the path to socio economic recovery passes through structured and strategic interventions to support sustainable agricultural production DAKAR Senegal December 13 2021 APO Group The International Islamic Trade Finance Corporation ITFC www ITFC idb org will release a series of four 4 short documentaries showing the depth of ITFC s interventions in the groundnut sector in Senegal Called The ITFC Groundnut Project Full Cycle the documentary will air on Africanews from December 16 31 2021 and on Afrique Media TV from December 16 24 2021 and will also be featured on ITFC s social media platforms Over the years ITFC has established and consolidated a strategic partnership with the Soci t Nationale de Commercialization des Ol agineux SONACOS the peanut oil processing company in Senegal with support ranging from financing the purchase of peanuts from local farming communities processing peanut oil for export and acquiring laboratory analysis equipment for SONACOS ITFC s intervention has been crucial in making funds available in a timely manner ensuring there are no supply chain disruptions Since peanuts are the main source of income for most farmers in Senegal and the country s main agricultural export ITFC s partnership with SONACOS has a direct impact not only on agricultural and rural communities but also on the economy national in general ITFC is providing 47 2 million in financing to the sector for this crop season which is expected to increase in the coming years This figure brings the total funding allocated to this sector in Senegal to US 380 2 million since the creation of ITFC in 2008 Commenting on the series launch ITFC CEO Eng Hani Salem Sonbol said One of our strategic focuses at ITFC is the agricultural sector and working together with member countries to drive the sector forward is at the heart of our interventions post covid recovery We are well aware that one of the sectors most affected by the pandemic is the agricultural sector and most importantly small farmers and rural communities This documentary continues to confirm that the path to socio economic recovery passes through structured and strategic interventions to support sustainable agricultural production and the ITFC remains firmly committed to this goal especially in the Sub Saharan Africa region Watch ITFC s White Gold series on Africanews and Afrique Media TV
    The International Islamic Trade Finance Corporation Launches Four-Part Documentary Series on Senegal’s Groundnut Sector
    Africa1 year ago

    The International Islamic Trade Finance Corporation Launches Four-Part Documentary Series on Senegal’s Groundnut Sector

    This documentary continues to confirm that the path to socio-economic recovery passes through structured and strategic interventions to support sustainable agricultural production.

    DAKAR, Senegal, December 13, 2021 / APO Group / -

    The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-idb.org) will release a series of four (4) short documentaries showing the depth of ITFC's interventions in the groundnut sector in Senegal.

    Called The ITFC Groundnut Project: Full Cycle, the documentary will air on Africanews from December 16-31, 2021 and on Afrique Media TV from December 16-24, 2021 and will also be featured on ITFC's social media platforms.

    Over the years, ITFC has established and consolidated a strategic partnership with the “Société Nationale de Commercialization des Oléagineux” (SONACOS), the peanut oil processing company in Senegal; with support ranging from financing the purchase of peanuts from local farming communities, processing peanut oil for export, and acquiring laboratory analysis equipment for SONACOS. ITFC's intervention has been crucial in making funds available in a timely manner, ensuring there are no supply chain disruptions. Since peanuts are the main source of income for most farmers in Senegal and the country's main agricultural export, ITFC's partnership with SONACOS has a direct impact not only on agricultural and rural communities, but also on the economy. national in general. ITFC is providing $ 47.2 million in financing to the sector for this crop season, which is expected to increase in the coming years. This figure brings the total funding allocated to this sector in Senegal to US $ 380.2 million since the creation of ITFC in 2008.

    Commenting on the series launch, ITFC CEO Eng. Hani Salem Sonbol said: “One of our strategic focuses at ITFC is the agricultural sector and working together with member countries to drive the sector forward is at the heart of our interventions. post-covid recovery. We are well aware that one of the sectors most affected by the pandemic is the agricultural sector and, most importantly, small farmers and rural communities. This documentary continues to confirm that the path to socio-economic recovery passes through structured and strategic interventions to support sustainable agricultural production and the ITFC remains firmly committed to this goal, especially in the Sub-Saharan Africa region ”.

    Watch ITFC's White Gold series on Africanews and Afrique Media TV.

  •   We have shared ideas and learned more about the post covid dynamics and we will make use of all of that as well as the new synergies we build to better serve our member countries DURBAN South Africa November 24 2021 APO Group The International Islamic Trade Finance Corporation ITFC www ITFC idb org joined partners stakeholders in the Arab Africa Trade Bridges Program AATB strategic stakeholders and public and private sector actors to the 2021 edition of Intra African Trade Fair IATF that took place in the city of Durban in South Africa The ITFC delegation to the event led by CEO Hani Salem Sonbol was invited to many panels to share ITFC s vision and programs aimed at accelerating trade across the African continent and beyond In addition ITFC organized two side events involving stakeholders from the pharmaceutical and commercial sectors The Roundtable on Harmonization of Standards for Pharmaceutical Products and Medical Devices in Africa which took place on November 17 2021 brought together speakers from Afreximbank ITFC ARSO the AfCFTA Secretariat the African Union Commission among other important stakeholders The event exposed the impact of local vaccine and drug manufacturing on Africa s industrialization and its recovery from the pandemic and concluded with key players from the African pharmaceutical and healthcare sectors and partners who pledged to invest more in the growth of the sectors The delegation also facilitated within the framework of the AATB Program the fourth edition of the Arab African Business Matchmaking Meeting on Pharmaceuticals and Medical Devices on November 17 and 18 2021 The meeting bridges the gap between entrepreneurs and entrepreneurs interested officials from Arab countries and African regions and increase trade and investment opportunities between countries in both regions It also offered Arab pharmaceutical producers the opportunity to network and establish business contacts with importers and national pharmacies in Africa The ITFC CEO also participated and addressed the meeting on the high level panel on the power of trade shows in opening markets and building trade and investment bridges and on a panel on trade promotion initiatives of Multilateral Development Finance Institutions in the Context of the AfCFTA Speaking of ITFC s commitment to intra African trade and its presence at the event Eng Hani Salem Sonbol ITFC CEO said ITFC and its partners are committed to boosting trade within Africa and Arab Africa throughout over the years and our presence at the 2021 Intra African Trade Fair is in line with that commitment It gave us the opportunity to showcase the progress made so far in harmonizing standards for pharmaceuticals and medical devices in Africa and to access the current status of intra African from the perspective of our partners and other key players on the continent We have shared ideas and learned more about the post covid dynamics and we will make use of all that as well as the new synergies that we build to better serve our member countries The event ended with a renewed commitment from various stakeholders to facilitate the leveraging of intra African and Arab African trade in the African Continental Free Trade Agreement AfCFTA and the AATB Program
    During the latest edition of the IATF in Durban, South Africa, the International Islamic Trade Finance Corporation (ITFC) organized two side events, under the AATB program, to share its vision and programs aimed at accelerating trade across the African continent.
      We have shared ideas and learned more about the post covid dynamics and we will make use of all of that as well as the new synergies we build to better serve our member countries DURBAN South Africa November 24 2021 APO Group The International Islamic Trade Finance Corporation ITFC www ITFC idb org joined partners stakeholders in the Arab Africa Trade Bridges Program AATB strategic stakeholders and public and private sector actors to the 2021 edition of Intra African Trade Fair IATF that took place in the city of Durban in South Africa The ITFC delegation to the event led by CEO Hani Salem Sonbol was invited to many panels to share ITFC s vision and programs aimed at accelerating trade across the African continent and beyond In addition ITFC organized two side events involving stakeholders from the pharmaceutical and commercial sectors The Roundtable on Harmonization of Standards for Pharmaceutical Products and Medical Devices in Africa which took place on November 17 2021 brought together speakers from Afreximbank ITFC ARSO the AfCFTA Secretariat the African Union Commission among other important stakeholders The event exposed the impact of local vaccine and drug manufacturing on Africa s industrialization and its recovery from the pandemic and concluded with key players from the African pharmaceutical and healthcare sectors and partners who pledged to invest more in the growth of the sectors The delegation also facilitated within the framework of the AATB Program the fourth edition of the Arab African Business Matchmaking Meeting on Pharmaceuticals and Medical Devices on November 17 and 18 2021 The meeting bridges the gap between entrepreneurs and entrepreneurs interested officials from Arab countries and African regions and increase trade and investment opportunities between countries in both regions It also offered Arab pharmaceutical producers the opportunity to network and establish business contacts with importers and national pharmacies in Africa The ITFC CEO also participated and addressed the meeting on the high level panel on the power of trade shows in opening markets and building trade and investment bridges and on a panel on trade promotion initiatives of Multilateral Development Finance Institutions in the Context of the AfCFTA Speaking of ITFC s commitment to intra African trade and its presence at the event Eng Hani Salem Sonbol ITFC CEO said ITFC and its partners are committed to boosting trade within Africa and Arab Africa throughout over the years and our presence at the 2021 Intra African Trade Fair is in line with that commitment It gave us the opportunity to showcase the progress made so far in harmonizing standards for pharmaceuticals and medical devices in Africa and to access the current status of intra African from the perspective of our partners and other key players on the continent We have shared ideas and learned more about the post covid dynamics and we will make use of all that as well as the new synergies that we build to better serve our member countries The event ended with a renewed commitment from various stakeholders to facilitate the leveraging of intra African and Arab African trade in the African Continental Free Trade Agreement AfCFTA and the AATB Program
    During the latest edition of the IATF in Durban, South Africa, the International Islamic Trade Finance Corporation (ITFC) organized two side events, under the AATB program, to share its vision and programs aimed at accelerating trade across the African continent.
    Africa1 year ago

    During the latest edition of the IATF in Durban, South Africa, the International Islamic Trade Finance Corporation (ITFC) organized two side events, under the AATB program, to share its vision and programs aimed at accelerating trade across the African continent.

    We have shared ideas and learned more about the post-covid dynamics and we will make use of all of that, as well as the new synergies we build to better serve our member countries.

    DURBAN, South Africa, November 24, 2021 / APO Group / -

    The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-idb.org) joined partners, stakeholders in the Arab-Africa Trade Bridges Program (AATB), strategic stakeholders, and public and private sector actors to the 2021 edition of Intra. -African Trade Fair (IATF) that took place in the city of Durban in South Africa.

    The ITFC delegation to the event led by CEO Hani Salem Sonbol was invited to many panels to share ITFC's vision and programs aimed at accelerating trade across the African continent and beyond. In addition, ITFC organized two side events involving stakeholders from the pharmaceutical and commercial sectors.

    The Roundtable on Harmonization of Standards for Pharmaceutical Products and Medical Devices in Africa, which took place on November 17, 2021, brought together speakers from Afreximbank, ITFC, ARSO, the AfCFTA Secretariat, the African Union Commission, among other important stakeholders. The event exposed the impact of local vaccine and drug manufacturing on Africa's industrialization and its recovery from the pandemic and concluded with key players from the African pharmaceutical and healthcare sectors and partners who pledged to invest more in the growth of the sectors. .

    The delegation also facilitated, within the framework of the AATB Program, the fourth edition of the Arab-African Business Matchmaking Meeting on Pharmaceuticals and Medical Devices on November 17 and 18, 2021. The meeting bridges the gap between entrepreneurs and entrepreneurs. interested officials from Arab countries and African regions and increase trade and investment opportunities between countries in both regions. It also offered Arab pharmaceutical producers the opportunity to network and establish business contacts with importers and national pharmacies in Africa.

    The ITFC CEO also participated and addressed the meeting on the high-level panel on the power of trade shows in opening markets and building trade and investment bridges, and on a panel on trade promotion initiatives of Multilateral Development Finance Institutions in the Context of the AfCFTA.

    Speaking of ITFC's commitment to intra-African trade and its presence at the event, Eng. Hani Salem Sonbol, ITFC CEO, said: “ITFC and its partners are committed to boosting trade within Africa and Arab Africa throughout over the years and our presence at the 2021 Intra-African Trade Fair is in line with that commitment. It gave us the opportunity to showcase the progress made so far in harmonizing standards for pharmaceuticals and medical devices in Africa and to access the current status of intra-African from the perspective of our partners and other key players on the continent. We have shared ideas and learned more about the post-covid dynamics and we will make use of all that, as well as the new synergies that we build to better serve our member countries ”.

    The event ended with a renewed commitment from various stakeholders to facilitate the leveraging of intra-African and Arab-African trade in the African Continental Free Trade Agreement (AfCFTA) and the AATB Program.

  •   We believe in the growth of the agricultural sector in Sub Saharan Africa and we are ready to support key players such as SONACOS JEDDAH Kingdom of Saudi Arabia November 24 2021 APO Group The International Islamic Trade Finance Corporation ITFC ITFC idb org granted a financing of 40 million euros to the National Peanut Company of Senegal SONACOS This facility is dedicated to the post Covid recovery of the Senegalese agricultural sector the facility is intended to finance part of the 2021 2022 peanut campaign The financing will cover about 45 of SONACOS financing needs to ensure the acquisition of 150 000 tons of peanuts arising from farmers current harvest and processed into peanut oil animal feed and edible peanuts This is to support the full recovery of the Senegalese economy as agriculture is a vital sector contributing around 16 to the country s GDP with peanut export earnings totaling EUR329 3 million during the 2020 farming season 2021 The operation is particularly crucial as its impact will directly contribute to SDG 1 End poverty and SDG 2 Zero hunger This brings the total financing approved by ITFC in favor of Senegal to more than USD 1 1 billion in 19 operations since ITFC s inception in 2008 Commenting on the signing Mr Nazeem Noordali ITFC s COO stated ITFC s commitment to supporting the agricultural sector especially the peanut sector in Senegal is long term and of great interest to us We believe in the growth of the agricultural sector in Sub Saharan Africa and we are ready to support key players such as SONACOS in projects that not only add financial value but directly impact agricultural and rural communities In this way we are not only supporting the recovery of the national and regional economy but we are also helping to create and maintain jobs and empower farmers For his part Mr Modou Diagne Fada CEO of SONACOS added that SONACOS s partnership with ITFC is crucial for us ITFC s 40 million funding provides a much needed resource for our farmers and is a critical step in ensuring a successful 2021 2022 peanut trade campaign in Senegal In addition ITFC has a great knowledge of agricultural and African realities which is crucial for the development of this sector We want to thank ITFC for the constant support over several seasons to this strategic sector for the country
    ITFC signs a 40 million euro agreement with SONACOS to finance the 2021/22 peanut season in Senegal
      We believe in the growth of the agricultural sector in Sub Saharan Africa and we are ready to support key players such as SONACOS JEDDAH Kingdom of Saudi Arabia November 24 2021 APO Group The International Islamic Trade Finance Corporation ITFC ITFC idb org granted a financing of 40 million euros to the National Peanut Company of Senegal SONACOS This facility is dedicated to the post Covid recovery of the Senegalese agricultural sector the facility is intended to finance part of the 2021 2022 peanut campaign The financing will cover about 45 of SONACOS financing needs to ensure the acquisition of 150 000 tons of peanuts arising from farmers current harvest and processed into peanut oil animal feed and edible peanuts This is to support the full recovery of the Senegalese economy as agriculture is a vital sector contributing around 16 to the country s GDP with peanut export earnings totaling EUR329 3 million during the 2020 farming season 2021 The operation is particularly crucial as its impact will directly contribute to SDG 1 End poverty and SDG 2 Zero hunger This brings the total financing approved by ITFC in favor of Senegal to more than USD 1 1 billion in 19 operations since ITFC s inception in 2008 Commenting on the signing Mr Nazeem Noordali ITFC s COO stated ITFC s commitment to supporting the agricultural sector especially the peanut sector in Senegal is long term and of great interest to us We believe in the growth of the agricultural sector in Sub Saharan Africa and we are ready to support key players such as SONACOS in projects that not only add financial value but directly impact agricultural and rural communities In this way we are not only supporting the recovery of the national and regional economy but we are also helping to create and maintain jobs and empower farmers For his part Mr Modou Diagne Fada CEO of SONACOS added that SONACOS s partnership with ITFC is crucial for us ITFC s 40 million funding provides a much needed resource for our farmers and is a critical step in ensuring a successful 2021 2022 peanut trade campaign in Senegal In addition ITFC has a great knowledge of agricultural and African realities which is crucial for the development of this sector We want to thank ITFC for the constant support over several seasons to this strategic sector for the country
    ITFC signs a 40 million euro agreement with SONACOS to finance the 2021/22 peanut season in Senegal
    Africa1 year ago

    ITFC signs a 40 million euro agreement with SONACOS to finance the 2021/22 peanut season in Senegal

    We believe in the growth of the agricultural sector in Sub-Saharan Africa and we are ready to support key players such as SONACOS

    JEDDAH, Kingdom of Saudi Arabia, November 24, 2021 / APO Group / -

    The International Islamic Trade Finance Corporation (ITFC) (ITFC-idb.org) granted a financing of 40 million euros to the National Peanut Company of Senegal (SONACOS). This facility is dedicated to the post-Covid recovery of the Senegalese agricultural sector, the facility is intended to finance part of the 2021-2022 peanut campaign.

    The financing will cover about 45% of SONACOS financing needs to ensure the acquisition of 150,000 tons of peanuts arising from farmers' current harvest and processed into peanut oil, animal feed and edible peanuts. This is to support the full recovery of the Senegalese economy as agriculture is a vital sector contributing around 16% to the country's GDP with peanut export earnings totaling EUR329.3 million during the 2020 farming season. / 2021.

    The operation is particularly crucial as its impact will directly contribute to SDG 1 “End poverty” and SDG 2 “Zero hunger”.

    This brings the total financing approved by ITFC in favor of Senegal to more than USD 1.1 billion in 19 operations since ITFC's inception in 2008.

    Commenting on the signing, Mr. Nazeem Noordali, ITFC's COO stated: “ITFC's commitment to supporting the agricultural sector, especially the peanut sector in Senegal, is long-term and of great interest to us. We believe in the growth of the agricultural sector in Sub-Saharan Africa and we are ready to support key players such as SONACOS in projects that not only add financial value but directly impact agricultural and rural communities. In this way, we are not only supporting the recovery of the national and regional economy, but we are also helping to create and maintain jobs and empower farmers ”.

    For his part, Mr. Modou Diagne Fada, CEO of SONACOS added that: “SONACOS's partnership with ITFC is crucial for us. ITFC's € 40 million funding provides a much-needed resource for our farmers and is a critical step in ensuring a successful 2021/2022 peanut trade campaign in Senegal. In addition, ITFC has a great knowledge of agricultural and African realities, which is crucial for the development of this sector. We want to thank ITFC for the constant support over several seasons to this strategic sector for the country ”.

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