The International Islamic Trade Finance Corporation (ITFC) signs 2026 Annual Financing Plan with the Republic of Senegal
This financing plan is expected to support key sectors of the Senegalese economy, strengthen supply chains, and contribute to energy and food security
DAKAR: The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has signed the 2026 Annual Financing Plan with the Republic of Senegal, reaffirming its commitment to continue supporting the country’s priorities and economic development agenda.
The Annual Financing Plan was signed by Eng. Adeeb Yousuf Al-Aama, Chief Executive Officer of ITFC, and H.E. Abdourahmane Sarr, Minister of Economy, Planning and Cooperation of the Republic of Senegal.
Implemented under the EUR 2 billion, five-year Framework Agreement signed in May 2025, the 2026 Annual Financing Plan provides for the mobilisation of EUR 630 million to finance the import and export of essential commodities, including petroleum products and groundnuts. This financing plan is expected to support key sectors of the Senegalese economy, strengthen supply chains, and contribute to energy and food security.
Commenting on the signing, Eng. Adeeb Yousuf Al-Aama, CEO of ITFC, stated: “The signing of the 2026 Annual Financing Plan underscores ITFC’s commitment to continue supporting Senegal’s trade and development priorities. Through this partnership, we aim to ensure the timely availability of strategic commodities and contribute to sustainable and inclusive economic growth.”
H.E. Abdourahmane Sarr, Minister of Economy, Planning, and Cooperation of Senegal, added: “This Annual Financing Plan reflects the strength of our partnership with ITFC and its continued support for Senegal’s economic development objectives. The financing will play a critical role in supporting key sectors of our economy, enhancing trade flows, and reinforcing our efforts toward long-term economic stability.”
The signing further consolidates ITFC’s role as a trusted trade finance partner to Senegal. Since its inception in 2008, ITFC and the Republic of Senegal have maintained a strong and longstanding partnership, with a total of US$ 2.8 billion approved to support national development priorities through tailored, Shariah-compliant trade finance solutions.
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