BAKU, Azerbaijan, September 21. In 2022, approvals of the International Islamic Trade Finance Corporation for private sector development reached US$757 million, bringing the total approvals since inception to more than US$17 billion, Eng. Hani Salem Sonbol, Chief Executive Officer of the International Islamic Trade Finance Corporation and Acting Chief Executive Officer of the Islamic Corporation for the Development of the Private Sector (ICD) (members of the Islamic Development Bank (IsDB) Group), said in an exclusive interview with Trend.
“Additionally, ITFC has expanded its capacity, attracting regional and global banks to participate in its syndicated operations for member countries.
In the sphere of trade development, ITFC has fostered successful collaborations with regional and international partners. This includes the implementation of flagship programs such as the Arab Africa Trade Bridges Program (AATB), the Aid for Trade Initiative for Arab States (AfTIAS 2.0), with a particular emphasis on projects for women and youth empowerment to ensure inclusivity in the global market. Furthermore, ITFC has launched the ITFC SME Program designed for West Africa and now we are working on the new flagship program TCCA+ which was mentioned earlier to focus on Central Asia and Azerbaijan,” he said.
Hani Salem Sonbol noted that looking ahead, ITFC's strategic priorities will centre on building partnerships to create sustainable development impact through integrated trade finance and trade development solutions for member countries.
“Additionally, as a proactive global player, ITFC remains steadfast in its commitment to contributing to the achievement of the United Nations Sustainable Development Goals (SDGs),” he added.
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