The MoU was signed by ITFC's Director, Eng. Hani Salem Sonbol, and the EIF's Executive Director, Dr Ratnakar Adhikari.

Hani Salem Sonbol said: “We are pleased to be initiating this new partnership, which will be essential in supporting the creation of new trading opportunities in least-developed countries and in contributing to achieving the Sustainable Development Goals. Assisting LDCs, building strategic partnerships and providing integrated trade solutions tailored to the needs of our member countries is at the core of ITFC’s mandate.”

Dr Ratnakar Adhikari said: "This new partnership with ITFC marks a vital first step in advancing strategic trade investments in LDCs. Together, we are committed to ensuring that no LDC is left behind and to building a better trading future for the poorer countries. We have identified three key areas of engagement, including capitalizing on the EIF analytical framework to help LDCs undertake policy reforms, jointly funding priority projects, and assisting LDCs in strengthening their trade-related institutions."

The MoU aims to significantly increase developing countries' exports, with a view to doubling the LDCs' share of global exports by 2020. This can be achieved by leveraging resources and providing trade finance to develop LDCs' trading capacities, including through business-to-business exchanges, direct financing and cooperation with other fund providers.

The ITFC - an autonomous entity within the Islamic Development Bank (IsDB) Group - consolidates all trade finance businesses previously handled by various windows within the IsDB Group. This consolidation has enhanced the corporation’s efficiency in service delivery by enabling rapid responses to customer needs in a market-driven business environment. Further information is available here.

The Enhanced Integrated Framework (EIF) brings together partners and resources to support least-developed countries (LDCs) in using trade for poverty reduction, inclusive growth and sustainable development. The EIF is a global partnership between the LDCs, donors and international agencies, including the WTO, underpinned by a multi-donor trust fund, which provides financial and technical support to build trade capacity in 47 LDCs and four graduated countries. Further information is available here.




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