ITFC boosts Tunisia’s economy with $310m pacts

The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IDB) Group, recently signed two Murabaha agreements worth $310 million.
The first agreement was in favor of the Tunisian government represented by the Tunisian Electricity and Gas Company.
The agreements were signed by Mohammed Fadhel Abdelkefi, Tunisian minister of development, investment and international cooperation, and the IDB governor with Hani Salem Sonbol, chief executive officer of the ITFC.
The signing ceremony was on the sidelines of the IDB Group’s 42nd annual meeting in Jeddah.
Sonbol said: “The ITFC financing will contribute to securing the supply of petroleum products fueling vehicles and power plants in the country, (Tunisia) and will therefore support the economic growth. Moreover, imported petroleum products are essential for households and public administration that would serve all economic sectors.”
Abdelkefi said: “The two financing agreements that we have signed today with the ITFC for the financing of imports of petroleum products is extremely important. They enable Tunisia to have sufficient supply of such strategic products.”

Source: Arab News