JEDDAH, Saudi Arabia – The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) Group, has signed a landmark annual financing agreement with the Government of Bangladesh. The deal, valued at US$2.75 billion, is aimed at supporting the country’s critical energy and agriculture sectors.
The financing plan will help Bangladesh import essential petroleum products, Liquified Natural Gas (LNG), and fertilizers. The Bangladesh Petroleum Corporation (BPC), Bangladesh Oil, Gas & Mineral Resources Corporation (Petrobangla), and Bangladesh Agricultural Development Corporation (BADC) will be the key beneficiaries of the fund, covering the period from July 2025 to June 2026.
The agreement was officially signed at the ITFC headquarters in Jeddah by Mr. Nazeem Noordali, Chief Operating Officer of ITFC, and Mr. Md. Shahriar Kader Siddiky, Secretary of the Economic Relations Division (ERD) of Bangladesh’s Ministry of Finance, and Member of the Board of Executive Directors of IsDB. The signing ceremony took place during the official visit of a high-level delegation from Bangladesh.
Since its inception, ITFC has provided over US$19 billion in financing to the Government of Bangladesh, a reflection of the long-standing and successful partnership between the two parties. This new financing agreement further strengthens ITFC’s commitment to supporting Bangladesh’s development goals, particularly in its vital energy and agriculture sectors.
This significant financing plan is poised to enhance Bangladesh’s energy security and agricultural productivity, paving the way for sustained growth and development in the coming years.
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