The ITFC Provides USD 15 Million Emergency Financing Facility to Maldives-Based State Trading Organization

The International Islamic Trade and Finance Corporation (ITFC) has provided USD 15 million as an emergency funding facility to the State Trading Organization (STO) of Maldives in an attempt to ensure the long-term progression of member states in the health, social and economic sectors. 

The emergency funding facility is expected to aid the STO in the purchase of vital products such as basic food, medications and crucial supplies used by frontline workers in the fight against the COVID-19 pandemic, including safety goggles, immediate life-saving personal protective medical gear and anti-fog face masks. Furthermore, the STO has stated that, in addition to the aforesaid financing facility, the ITFC will provide a grant aid...