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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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As global power structures shift, Invest Africa convenes The Africa Debate 2026 to redefine partnership in a changing world

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February 6, 2026

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The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation

LONDON, United Kingdom, February 5, 2026/APO Group/ –As African economies assert greater agency in a rapidly evolving global order, Invest Africa (www.InvestAfrica.com) is delighted to announce The Africa Debate 2026, its flagship investment forum, taking place at the historic Guildhall in London on 3 June 2026.

Now in its 12th year, The Africa Debate has established itself as London’s premier platform for African investment dialogue since launching in 2014, convening over 800 global decision-makers annually to shape the future of trade, finance, investment, and development across the continent.

Under the theme “Redefining Partnership: Navigating a World in Transition”, this year’s forum will focus on Africa’s response to global economic realignment with greater agency, ambition and economic sovereignty.

The Africa Debate puts Africa’s priorities at the centre of the conversation, moving beyond traditional narratives to focus on ownership, resilience and long-term value creation.

“Volatility is not new to Africa. What is changing is the opportunity to respond with greater agency and ambition,” says Invest Africa CEO Chantelé Carrington.

“This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy — so African economies can take greater ownership of their growth. Success will be defined by how effectively we turn disruption into leverage and partnership into shared value.”

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation.

Key challenges driving the debate

Core focus areas for this year’s edition of The Africa Debate include:

This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy

Global Realignment & New Partnerships

How shifting geopolitical and economic power structures are reshaping Africa’s global partnerships, trade dynamics and investment landscape.

Financing Africa’s Future

The growing need to reform the global financial architecture, new approaches to development finance, as well as the strengthening of market access and financial resilience of African economies in a changing global system.

Strategic Value Chains

Moving beyond primary exports to build local value chains in critical minerals for the green economy. Also addressing Africa’s energy access gap and mobilising investment in renewable and transitional energy systems.

Digital Transformation & Technology

Unlocking growth in fintech, AI and digital infrastructure to drive productivity, inclusion, and the next phase of Africa’s economic transformation.

The Africa Debate 2026 offers a unique platform for high-level dialogue, deal-making, and strategic engagement. Attendees will gain actionable insights from leading policymakers, investors and business leaders shaping Africa’s economic future, while building strategic partnerships that define the continent’s next growth phase.

Registration is now open (http://apo-opa.co/46b19gj).

Distributed by APO Group on behalf of Invest Africa.

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Zion Adeoye terminated as Chief Executive Officer (CEO) of CLG due to serious personal and professional conduct violations

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2 days ago

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February 6, 2026

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After a thorough internal and external investigation, along with a disciplinary hearing chaired by Sbongiseni Dube, CLG (https://CLGglobal.com) has made the decision to terminate Zion Adeoye due to serious personal and professional conduct violations. This process adhered to the Code of Good Practice of the Labour Relations Act, ensuring fairness, transparency, and compliance with South African law.

Mr. Adeoye has been held accountable for several serious offenses, including:

  • Making malicious and defamatory statements against colleagues
  • Extortion
  • Intimidation
  • Fraud
  • Misuse of company funds
  • Theft and misappropriation of funds
  • Breach of fiduciary duty
  • Mismanagement

His actions are in direct contradiction to our firm’s core values. We do not approve of attorneys spending time in a Gentleman’s Club. CLG deeply regrets the impact this situation has had on our colleagues and continues to provide full support to those affected.

We want to express our gratitude to those who spoke up and to reassure everyone at the firm of our unwavering commitment to maintaining a respectful workplace. Misconduct of any kind is unacceptable and will be addressed decisively.

We recognize the seriousness of this matter and have referred it to the appropriate law enforcement, regulatory, and legal authorities in Nigeria, Mauritius, and South Africa. We kindly ask that the privacy of the third party involved be respected.

Distributed by APO Group on behalf of CLG.

 

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The International Islamic Trade Finance Corporation (ITFC) Strengthens Partnership with the Republic of Djibouti through US$35 Million Financing Facility

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February 6, 2026

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This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties

JEDDAH, Saudi Arabia, February 5, 2026/APO Group/ –The International Islamic Trade Finance Corporation (ITFC) (https://www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has signed a US$35 million sovereign financing facility with the Republic of Djibouti to support the development of the country’s bunkering services sector and strengthen its position as a strategic regional maritime and trade hub.

The facility was signed at the ITFC Headquarters in Jeddah by Eng. Adeeb Yousuf Al-Aama, Chief Executive Officer of ITFC, and H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti.

The financing facility is expected to contribute to Djibouti’s economic growth and revenue diversification by reinforcing the competitiveness and attractiveness of the Djibouti Port as a “one-stop port” offering comprehensive vessel-related services. With Red Sea Bunkering (RSB) as the Executing Agency, the facility will support the procurement of refined petroleum products, thus boosting RSB’s bunkering operations, enhancing revenue diversification, and consolidating Djibouti’s role as a key logistics and trading hub in the Horn of Africa and the wider region.

We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth

Commenting on the signing, Eng. Adeeb Yousuf Al-Aama, CEO of ITFC, stated:

“This financing reflects ITFC’s continued commitment to supporting Djibouti’s strategic development priorities, particularly in strengthening energy security, port competitiveness, and trade facilitation. We are proud to deepen our partnership with the Republic of Djibouti and contribute to sustainable economic growth and regional integration.”

H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti, commented: “Today’s signing marks an important milestone in the development of Djibouti’s bunkering services and reflects our strong and valued partnership with ITFC, particularly in the oil and gas sector. This collaboration supports our ambition to position Djibouti as a regional hub for integrated maritime and logistics services. We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth.”

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties.

Since its inception in 2008, ITFC and the Republic of Djibouti have maintained a strong partnership, with a total of US$1.8 billion approved primarily supporting the country’s energy sector and trade development objectives.

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

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