The International Islamic Trade Finance Corporation, a member of the Islamic Development Bank Group, has signed a landmark annual financing plan with Bangladesh government for US$2.75 billion to support the country鈥檚 energy and agriculture sectors recently at Jeddah, says a press release.
The financing plan will facilitate the importation of petroleum products, Liquified Natural Gas and fertilisers by Bangladesh Petroleum Corporation, Bangladesh Oil, Gas & Mineral Resources Corporation and Bangladesh Agricultural Development Corporation respectively.
The financing plan will cover the period from July 2025 to June 2026.
Nazeem Noordali, chief operating officer of ITFC, and Md Shahriar Kader Siddiky, secretary of Economic Relations Division of finance ministry, Bangladesh, and member, Board of executive directors of IsDB, inked the agreement on behalf of the respective parties at the ITFC headquarters in Jeddah, during the official visit of the high-level delegation from Bangladesh.
Since its inception, ITFC has provided over US$ 19 billion to Bangladesh government and this agreement is a continuous testament to the long-standing successful partnership between the two parties.
