International Islamic Trade Finance Corporation Finances Afreximbank with US$200 Million COVID-19 Response Package for the ...
(WorldNews Africa)

The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), member of the Islamic Development Bank (IsDB) Group, signed a US$200 million syndicated Murabaha financing agreement with the African Export-Import Bank (Afreximbank), a multilateral financial institution established by African governments and institutional investors. The facility seeks to help African countries address some of the economic impacts of the COVID-19 pandemic. This syndication is supported by number of partners and financial institutions who allocated resources to the agriculture sector in African. The agreement, which is indicative of ITFC’s ongoing commitment to and trust in Africa, will...