The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, and the Republic of The Gambia have signed a new US$250 million Framework Agreement to support the country’s development priorities through enhanced trade finance, energy security, food security, and private sector growth.
The Agreement was signed on the sidelines of the 2026 IsDB Group Annual Meetings in Baku, Azerbaijan, by Hon. Seedy K.M. Keita, Minister of Finance and Economic Affairs and IsDB Governor for the Republic of The Gambia, and Eng. Adeeb Yousuf Al Aama, Chief Executive Officer of ITFC.
The new three-year Framework Agreement follows the successful implementation and full utilization of the previous five-year US$250 million Framework Agreement signed in January 2021. It reflects the remarkable scale of cooperation between ITFC and The Gambia and provides a strategic platform to expand trade finance interventions in support of energy security, food security, private sector growth, and sustainable economic development.
Since commencing operations in The Gambia, ITFC has approved more than US$870 million in financing and trade development interventions, supporting key sectors of the economy and reinforcing its position as a long-standing development partner of the country.
The partnership is already delivering tangible impact across strategic sectors of the Gambian economy. Current operations support the importation of petroleum products through financing facilities benefiting the National Water and Electricity Company (NAWEC) and the Gambia National Petroleum Corporation (GNPC), helping to strengthen the country’s energy security and ensure the continuity of essential economic activities across the country. ITFC also supports food security through the financing of essential commodity imports and promotes private sector growth through trade finance partnerships with local financial institutions.
Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).
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About the International Islamic Trade Finance Corporation (ITFC):
The International Islamic Trade Finance Corporation (ITFC) is a member 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 socioeconomic conditions of the people across the world. Commencing operations in January 2008, ITFC has provided more than US$96 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.
