ITFC, AICE launch an Innovative Financing Program

 The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IDB) Group, in collaboration with the Indonesian Coffee Exporters and Industries Association (AICE) embarked on an innovative financing and trade development program to model a transformation change in the whole Indonesian Coffee Supply Chain. This program was launched on the sideline of the World Islamic Economic Forum (WIFE) occurring in Jakarta from the 2nd-4th August, 2016.

The launching event was held in the JW Marriot Hotel on the 4th August and attended by H.E. Eng. Hani Salem Sonbol, Chief Executive Officer - ITFC, Mr. Irfan Anwar, Chairman- AICE, Prof. Savas Alpay, Group Chief Economist - IDB Group, Mr. Syed Habib, General Manager, Trade Cooperation & Promotion Program (TCPP) - ITFC, Mr. Nazeem Noordali, General Manager Corporate & Structured Finance (CSF) - ITFC and invitees from interested parties.

Commenting on this program, Eng. Hani Salem Sonbol, CEO, ITFC said “This program will not only promote ITFC’s activities & initiatives, but also highlight the direct developmental impact that such initiatives have on the entire coffee chain in Indonesia, starting from the small farm-holders right up-stream through to supply chain actors including district traders, exporters, Exporters Association, processors”. He added “This program has been designed and implemented to strengthen trade development and promotion, and capacity building activities for the coffee sector. The financing will also allow Coffee Cooperatives and SMEs in Indonesia to increase their exports to global markets”.

Building on this year’s WIEF theme for decentralization of growth, the increasing role of

SMEs, the role of ICT development, shifting comparative advantages from multinationals to SMEs, ITFC’s participation and program received excellent praise and acceptance amongst the delegates and industry representatives including the Indonesian Coffee Exporters Association.

One of the most important highlights of this program is the relative ease with which it can be replicated in other member countries and industries across the globe including the coffee industry in Africa that can take note of the tremendous impact this program has and and will continue to have on the Indonesian people and economy.