The International Islamic Trade Finance Corporation (ITFC), part of the Islamic Development Bank Group, has inked a financing deal worth $100 million with the Turkish Development and Investment Bank. This substantial financial injection is aimed at propelling Türkiye’s agricultural and food sectors forward, with a keen focus on bolstering food security, renewable energy initiatives, and vital infrastructure.
ITFC’s CEO, Hani Salem Sonbol, emphasized the significance of this alliance, noting that it fortifies their shared vision for economic progress. It also broadens their capacity to underpin both the private and public economic sectors, tackle the pressing issue of food security, and ultimately contribute to Türkiye’s ongoing development.
Representatives from the Development and Investment Bank of Türkiye expressed that this monetary support marks a pivotal step in their quest to surmount the challenges linked to food security. They also anticipate that the funds will fuel Türkiye’s development and growth while expressing eagerness to fortify their collaborative efforts in the future.