ITFC to Strengthen Burkina Faso’s Private Sector Development Via EUR 20 Million Murabahah Financing Agreement

The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) Group, extends EUR 20 million to Burkino Faso, through a Murabahah financing agreement with Coris Bank International (CBI), as part of its ongoing commitment to strengthen private sector development in the country, according to a statement issued on the 30th of June 2021.

Why it Matters?

The agreement is part of ITFC’s flagship West Africa SMEs Program, which aims to improve access to finance for small and medium-sized enterprises (SMEs) in the region, through the provision of credit and capacity building facilities to them, as well as partner banks. The initial pilot initiative of the Program was rolled out in Burkina Faso in 2018, and h...