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International Islamic Trade Finance Corporation (ITFC), Saudi EXIM Bank, and OPEC Fund Sign US$ 100 Million Syndicated Financing to Support Fertilizer Imports for Bangladesh

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Bangladesh

The plan aims to support energy and food security for Bangladesh, providing funding for the supply of critical commodities, including petroleum products, LNG, and fertilizers

JEDDAH, Saudi Arabia, September 11, 2025/APO Group/ –The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, in partnership with Saudi EXIM Bank and the OPEC Fund for International Development (OPEC Fund), announced the signing of a landmark US$100 million Murabaha Financing Facility in favor of the People’s Republic of Bangladesh. The agreement marks a major milestone in supporting Bangladesh’s national food security strategy and enhancing intra-OIC trade cooperation.

The facility will provide funding for the importation of fertilizer by the Bangladesh Agricultural Development Corporation (BADC) from Kingdom of Saudi Arabia. BADC will serve as the executing agent for the Government of Bangladesh in this financing operation.

This transaction is part of a broader US$2.75 billion financing plan agreed in December 2024 between ITFC and the Government of Bangladesh to cover the Government’s financing requirements for the 2025–2026 fiscal year. The plan aims to support energy and food security for Bangladesh, providing funding for the supply of critical commodities, including petroleum products, LNG, and fertilizers.

This facility represents the first ITFC sovereign financing to Bangladesh for fertilizer imports, further diversifying its financing portfolio and aligning with its strategic goal of supporting agricultural resilience in member countries.

Bangladesh’s agriculture sector remains a cornerstone of its economy, contributing 11% to GDP and employing over one-third of the national workforce. The financing is expected to benefit approximately 7.9 million people, directly or indirectly engaged in agricultural production, particularly rice farming, which is central to the country’s food security and rural livelihoods.

“This initiative represents the first time ITFC has partnered with Saudi EXIM Bank and the OPEC Fund in a syndicated Murabaha facility dedicated to supporting food security in Bangladesh,” said Eng. Adeeb Y. Al Aama, CEO of ITFC. “It also marks a milestone in leveraging the strength of partner institutions to promote intra OIC trade flows. Through this facility, we reaffirm our commitment to sustainable trade and inclusive development by strengthening intra-OIC cooperation and supporting the vital agricultural sector in Bangladesh.”

Through this collaboration, Saudi Exim will support critical supply chain financing, open new markets, and strengthen trade links between Saudi Arabia and key global partners

Md. Shahriar Kader Siddiky, Secretary of the Economic Relations Division, Ministry of Finance, Government of the People’s Republic of Bangladesh, expressed his profound appreciation for ITFC, Saudi EXIM Bank, and the OPEC Fund for their invaluable and timely support in addressing critical national needs. He remarked, “The US$100 million syndicated financing facility represents a pivotal initiative to ensure the uninterrupted supply of fertilizers to our farmers. This initiative is not merely about financing; it is about safeguarding Bangladesh’s food security, promoting agricultural resilience, and ensuring the well-being of millions of rural households who depend on farming for their livelihoods. Such a significant partnership underscores the importance of shared commitment to sustainable development, economic inclusivity, and the prosperity of our people.” This partnership, he noted, is a testament to the enduring spirit of cooperation in driving forward a vision of growth, stability, and development for future generations.

Saudi Export-Import Bank (Saudi EXIM) has announced landmark agreement aimed at advancing global trade and enhancing food security by promoting the Kingdom’s non-oil exports, with a focus on its world-class fertilizers.

H.E. Eng. Saad bin Abdulaziz AlKhalb, CEO of Saudi EXIM, stated: “This agreement reflects Saudi Exim’s leading role in driving sustainable economic growth and reinforcing global supply chains. We are proud to partner with ITFC and the OPEC Fund to deliver innovative financing solutions that expand market access for Saudi products. These efforts not only meet the needs of Bangladesh but also foster deeper economic integration and sustainable development, aligning with Vision 2030’s objective to diversify our national economy. Through this collaboration, Saudi Exim will support critical supply chain financing, open new markets, and strengthen trade links between Saudi Arabia and key global partners. The initiative highlights the Kingdom’s commitment to leveraging its export capabilities to address essential global needs while driving long-term economic resilience.”

OPEC Fund President Dr. Abdulhamid Alkhalifa said: “The OPEC Fund is committed to supporting Bangladesh’s development agenda, where agriculture plays a central role, employing nearly half of the workforce. Bangladesh has made remarkable progress in achieving food security for its growing population, yet the sector remains particularly vulnerable to climate change. We thank ITFC and Saudi Exim as partners in this joint financing, which will help tackle these challenges by promoting higher productivity and greater diversification. The loan aligns closely with the OPEC Fund’s strategic priorities – particularly food security – and exemplifies our strong commitment to partnering with our member countries, such as Saudi Arabia, to advance South-South cooperation and sustainable development across the globe.”

The transaction also aligns with the broader development agendas of the partners, particularly in advancing South-South cooperation and contributing to several United Nations Sustainable Development Goals (SDGs), including Zero Hunger, No Poverty, and Good Health and Wellbeing.

The International Islamic Trade Finance Corporation (ITFC) has provided over US$20.8 billion in financing to Bangladesh since its inception in 2008, with a strong focus on the energy sector. This new initiative marks a strategic diversification of ITFC’s engagement, expanding support to the agriculture and food sectors. It also reflects Bangladesh’s growing strategic importance within ITFC’s development portfolio.

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

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SLB commissions new fluids systems plant in Pemba to support Mozambique’s offshore energy development

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Mozambique

New facility expands in-country drilling and completion fluids capability, advancing the next phase of SLB’s growth in Mozambique

PEMBA, Mozambique, October 9, 2026/APO Group/ –SLB (NYSE: SLB) (www.SLB.com) announced the opening of a new fluids systems plant in Pemba, Mozambique. The new facility strengthens in-country capacity to prepare, store and deliver drilling and completion fluids for offshore operations, reinforcing the infrastructure needed as Mozambique’s offshore activity grows and its role as a strategic energy hub for East Africa continues to expand.

The commissioning of the plant, also known as a liquid mud plant, coincides with SLB marking 70 years of operations in Mozambique. It reflects the company’s long-term commitment to investing in people, infrastructure and capability that support the country’s long-term offshore energy development plans.

 




  

With an initial storage capacity of 21,000 barrels, the liquid mud plant provides a scalable platform for future growth, supporting multiple customers and rising offshore activity while improving logistics and enhancing operational flexibility.

As SLB marks 70 years in Mozambique, this investment reflects our confidence in the country’s future and our commitment to supporting its energy ambitions

“As SLB marks 70 years in Mozambique, this investment reflects our confidence in the country’s future and our commitment to supporting its energy ambitions,” said Miguel Baptista, Central, East and Southern Africa, Managing Director, SLB. The new liquid mud plant strengthens local energy infrastructure, expands opportunities for local content development, and enhances our ability to support customers as they deliver some of Africa’s most significant offshore energy resources.”

The liquid mud plant project was delivered with strong local participation and that momentum is expected to continue into operations. During project delivery, more than 100 jobs were created in Pemba with nationals representing 80% of the workforce, reflecting a focus on building local capability.

The project was delivered with a strong focus on safety, operational integrity, and quality, achieving more than 67,000 hours worked without a recordable safety incident.

This key infrastructure strengthens SLB’s ability to support consistent service quality and enhance supply chain readiness for increasing offshore activity across Mozambique, supporting customers execute safely and efficiently while developing local skills and expertise.

Key Points:

  • SLB has commissioned a new fluids system plant in Pemba, expanding in-country drilling and completion fluids capability for offshore operations.
  • With an initial storage capacity of 21,000 barrels, the facility provides a scalable platform to support growing offshore activity in Mozambique.
  • The investment marks the next phase of SLB’s growth in Mozambique, strengthening local capability and supporting long-term offshore energy development.

Distributed by APO Group on behalf of SLB.

 

 




 

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South African Energy Storage Association (SAESA) welcomes 4,600 MW battery storage prioritisation and calls for integrated energy planning

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Battery energy storage systems (BESS) are becoming critical system infrastructure, supporting flexibility, reducing avoidable curtailment, shifting energy into periods of demand and strengthening security of supply

JOHANNESBURG, South Africa, October 9, 2026/APO Group/ –The South African Energy Storage Association (SAESA) (www.SAESA.org.za) welcomes the prioritisation of 4,600 MW of battery energy storage under the first Integrated Resource Plan (IRP) 2025 Section 34 determination.

 




  

The timing is significant. Recent Integrated Energy Plan (IEP) modelling and assumptions discussions highlighted a fundamental shift that South Africa’s energy planning now needs to capture: we cannot plan the future power system by counting megawatts of generation alone.

We must plan for when energy is available, where it is available, how it moves through a constrained grid and how it is stored and dispatched when the system needs it most.

The announcement reinforces that shift. Battery energy storage systems (BESS) are becoming critical system infrastructure, supporting flexibility, reducing avoidable curtailment, shifting energy into periods of demand and strengthening security of supply.

For SAESA, the message for the IEP is clear: storage, flexibility and system services must be modelled as integral components of South Africa’s future electricity architecture, with their contribution considered from the outset of generation planning.

“The IEP must plan the power system we are becoming, not simply model the power system we have inherited,” says SAESA.

The IEP must plan the power system we are becoming, not simply model the power system we have inherited

Partnership with C&I Energy + Storage Summit

SAESA is an association partner of the C&I Energy + Storage Summit, created by VUKA Group, taking place on 28–29 October 2026 at The Maslow Hotel, Sandton, Johannesburg.

The summit brings together commercial and industrial energy users, project developers, financiers, regulators and solution providers to explore practical approaches to energy security, procurement and storage deployment.

For businesses assessing how storage can support their operations, the event offers an opportunity to meet SAESA and engage with the wider energy community on the decisions shaping South Africa’s evolving electricity system.

Commercial and industrial energy decision-makers are invited to apply to attend as hosted buyers. Qualifying buyers receive complimentary summit access and curated opportunities to engage with industry partners.

 

Meet SAESA at C&I Energy + Storage Summit: Join the Hosted Buyer Programme

The Hosted Buyer Programme connects commercial and industrial energy decision-makers with solution providers shaping South Africa’s evolving private energy market.

Qualified energy buyers receive complimentary access to the summit and curated engagement with industry partners exploring energy procurement, storage deployment and project development.

Apply for the Hosted Buyer Programme (https://apo-opa.co/4ehLijJ)

Distributed by APO Group on behalf of VUKA Group.

 




 

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Afreximbank welcomes launch of Africa Credit Rating Agency as an important step in strengthening Africa’s financial architecture

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Expanding credible rating coverage can improve the information available to investors and support the development of deeper domestic and regional capital markets

PORT LOUIS, Mauritius, October 8, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) welcomes today’s launch of the Africa Credit Rating Agency (AfCRA), an important milestone in strengthening Africa’s financial architecture and expanding the continent’s capacity to generate credible, independent analysis of African credit risk.

 




 
 

Credit ratings play an important role in determining access to capital, influencing investor perceptions and shaping the cost at which governments, institutions and businesses can finance development. It is therefore essential that assessments of African credit risk are independent, rigorous and evidence-based, while reflecting a complete understanding of the structures, institutions and economic realities being assessed.

The establishment of AfCRA adds an important African-led source of credit opinion to the market. Its value will not be measured by whether it produces more favourable ratings, but by the credibility of its analysis, the quality of its data and transparency of its methodology, and its ability to deepen understanding of African sovereigns, sub-sovereigns and corporate credit.

This is particularly important given that many African issuers remain unrated, while local-currency and sub-sovereign markets continue to have limited rating coverage. Expanding credible rating coverage can improve the information available to investors and support the development of deeper domestic and regional capital markets.

AfCRA must set a new benchmark for the continent, maintain its independence, and remain wholly owned and controlled by Africans

Alongside fellow members of the Alliance of African Multilateral Financial Institutions (AAMFI), Afreximbank has consistently maintained that African Multilateral Financial Institutions should be assessed on the basis of their fundamentals, performance, legal frameworks, mandates and operating models. Ensuring that these institutional characteristics are properly understood is essential to achieving informed, balanced and credible assessments of African risk.

Commenting on the uniqueness of the African market, and need for AfCRA’s rating methodology to reflect this, Mr Denys Denya, Senior Executive Vice President, Afreximbank, said: “The rating methodology AfCRA develops must recognise the uniqueness of our environment and its institutional structures. The Agency must set its own standards and not follow those set elsewhere — it must build a unique identity that conforms to an ‘African best practice.”

Highlighting the need for the autonomy of the Africa Credit Rating agency as it takes off, Mr Denya added: “Most importantly, AfCRA must set a new benchmark for the continent, maintain its independence, and remain wholly owned and controlled by Africans. We must all use it, and in return expect a complete assessment of where we (Africa) stand: the strengths the market has ignored, and the weaknesses we still need to fix.”

AfCRA should therefore be seen as complementary to existing international and regional rating agencies, broadening the range of credible analysis available to investors and issuers while strengthening competition, transparency and analytical capacity within Africa’s credit markets.

As Africa seeks to mobilise the scale of capital required for industrialisation, trade, infrastructure and economic transformation, credible African institutions that improve information, strengthen market confidence and deepen the continent’s financial markets will become increasingly important.

Afreximbank congratulates the African Union, the African Peer Review Mechanism (APRM) and all those involved in bringing AfCRA from concept to launch, and looks forward to the contribution the Agency will make to deeper, more transparent and more efficient African capital markets.

Distributed by APO Group on behalf of Afreximbank.

 




 

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