ITFC and Cameroon Sign USD 750 Million Framework Agreement, EUR 98 Million Murabahah Financing Agreement

The International Islamic Trade Finance Corporation (ITFC), part of the Islamic Development Bank Group (IsDB) has signed two agreements with the Republic of Cameroon on the 12th of April 2021. The first is a USD 750 million three-year framework, in which the ITFC will provide Cameroon USD 250 million annually over three years to support key sectors through integrated trade solutions. The second agreement is a EUR 98 million Murabahah Financing agreement in favour of Société de Développement du Coton (SODECOTON), to purchase agricultural inputs.

Why it Matters?

The USD 750 million framework agreement will help Cameroon consolidate economic recovery efforts against the COVID-19 pandemic, by facilitating the import of key commoditie...