ITFC inks $260 million in deals with Gambia, Tajikistan to boost trade and private sector growth

The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) Group, has initiated its participation at the 2026 IsDB Group Annual Meetings in Baku by signing three significant agreements. These engagements focus on enhancing cooperation in trade finance, trade development, private sector growth, and regional economic collaboration among member states.

Led by CEO Adeeb Yousuf Al Aama, the ITFC delegation held bilateral meetings with representatives from various member countries, including Bangladesh, The Gambia, Guinea, Maldives, Senegal, Somalia, Nigeria, and Tajikistan. Discussions also involved partners like Vakif Katilim Bank and Turk Eximbank, centering on expanding trade finance, improving access to Shariah-compliant financing, and aligning ITFC's support with national development goals.

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The new agreement will provide a platform for ITFC to support priority sectors in The Gambia, including energy supply, food security, healthcare, agricultural value chains, and private sector financing through local financial institutions.

A key highlight was the signing of a three-year, US$250 million Framework Agreement with The Gambia. This agreement, which follows the complete utilization of a previous five-year US$250 million agreement from 2021, will support vital sectors in The Gambia such as energy, food security, healthcare, agriculture, and private sector financing through local institutions. The agreement was signed by Gambian Minister of Finance and Economic Affairs Hon. Seedy K.M. Keita and ITFC CEO Adeeb Yousuf Al Aama.

Additionally, ITFC signed a US$10 million Direct Murabaha Financing Facility with Tajikistan. This facility is intended to provide working capital for the cotton sector, enabling the Agency for Export to procure cotton from farmers through processing companies. The agreement was signed by Al Aama and Tajikistan's First Deputy Prime Minister, HE. Mr Hokim Holiqzoda. ITFC also participated in the Halal Economy Leadership Forum, discussing ethical business models and risk-resilient financing for regional integration and cross-border trade.

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The pilot facility would provide working capital to the cotton sector stakeholders, enabling the Agency for Export under the Government of the Republic of Tajikistan, through processing companies, to procure cotton from farmers.