📈 ITFC Signs $1.5 Bn Framework Agreement with Maldives

• Agreement Overview: The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) Group, signed a new 5-year Framework Agreement (2026–2031) to mobilize up to US$ 1.5 Bn in trade financing for the Maldives. • Strategic Commodities & SOE Support: Financing will cover imports of critical commodities—including staple food, medical supplies & equipment, and petroleum products—primarily through state-owned entities such as the State Trading Organization (STO). • SME & Private Sector Capacity: Facility provides lines of financing to local banks to support private sector businesses and SMEs, along with technical assistance and advisory services to expand trade capacity. • Historical Track Record: Follows the 2019–2024 framework (US$ 1.7 Bn approved). Since 2008, ITFC has extended over US$ 3.3 Bn in total financing to the Maldives across strategic sectors including energy, fisheries, health, and construction.