The International Islamic Trade Finance Corporation (ITFC), 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 supporting the country’s economic development agenda and trade priorities. The agreement 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.
The 2026 Annual Financing Plan is implemented under the EUR 2 billion, five-year Framework Agreement signed in May 2025. Under this plan, EUR 630 million will be mobilised to finance the import and export of essential commodities, including petroleum products and groundnuts. The financing is expected to support key sectors of the Senegalese economy, strengthen supply chains, and contribute to enhanced energy and food security in the country.
Speaking on the occasion, Eng. Adeeb Yousuf Al-Aama stated that the signing of the 2026 Annual Financing Plan underscores ITFC’s continued commitment to supporting Senegal’s trade and development priorities. He noted that through this partnership, ITFC aims to ensure the timely availability of strategic commodities while contributing to sustainable and inclusive economic growth.
H.E. Abdourahmane Sarr highlighted that the Annual Financing Plan reflects the strength of the partnership between Senegal and ITFC, as well as ITFC’s continued support for the country’s economic development objectives. He emphasised that the financing will play a critical role in supporting key sectors, enhancing trade flows, and reinforcing Senegal’s 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 has approved a total of US$2.8 billion in financing to support Senegal’s national development priorities through tailored, Shariah-compliant trade finance solutions. Overall, ITFC has provided more than US$92 billion in trade financing to OIC member countries, reinforcing its position as a leading provider of trade solutions and a catalyst for trade development across its member states.