The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has signed a landmark annual financing plan with the Government of Bangladesh for US$2.75 billion to support the country’s energy and agriculture sectors.
The financing plan will facilitate the importation of petroleum products, Liquified Natural Gas (LNG) and fertilizers by Bangladesh Petroleum Corporation (BPC), Bangladesh Oil, Gas & Mineral Resources Corporation (Petrobangla) and Bangladesh Agricultural Development Corporation (BADC) respectively. The financing plan will cover the period from July 2025 to June 2026.
Mr. Nazeem Noordali, Chief Operating Officer of ITFC, and Mr. Md. Shahriar Kader Siddiky, Secretary of Economic Relations Division (ERD) of the Ministry of Finance, Bangladesh, and Member, Board of Executive Directors of IsDB, inked the agreement on behalf of the respective parties at the ITFC headquarters in Jeddah, during the official visit of the high-level delegation from Bangladesh.
Since its inception, ITFC has provided over US$ 19 billion to the Govt. of Bangladesh and this agreement is a continuous testament to the long-standing successful partnership between the two parties.
Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).
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About the International Trade Finance Corporation (ITFC):
The International Islamic Trade Finance Corporation (ITFC) is 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 the socio-economic conditions of the people across the world. Commencing operations in January 2008, ITFC has provided US$80 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.
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