Through trade financing and trade development efforts in the agriculture, energy and industrial sectors, ITFC solutions have touched the lives of thousands of people and contributed to the socio-economic development of our member countries.
The International Islamic Trade Finance Corporation, a member of the Islamic Development Bank Group, has signed a US$210 million Framework Agreement with The Government of The Gambia for financing over a three-year period.
The agreement seeks to support key economic sectors, including energy, through the importation of refined petroleum products, and agriculture, through the importation of fertilizer and the provision of pre-export financing for agricultural produce notably, groundnuts and cashew nuts, the main agricultural produce/exports of the country.
The first phase of the project aims at eradicating the toxin fungus and enhancing the quality of the groundnut produced in The Gambia for local consumption and export into the European and other international markets. Based on the result of the pilot program, The Islamic corporation will study the possibility for its extension to the national level,”
Meanwhile, Fatoumata Jallow-Tambajang, thanked ITFC for its continued support and affirmed that The Gambia is seeking to improve its economy to consolidate economic growth, create jobs, and build a better future for its people.