Comoros is strengthening its energy and food supply chains with support from the International Islamic Trade Finance Corporation (ITFC), helping the island nation safeguard jobs and economic stability.
With no domestic oil production and limited agricultural output, Comoros relies heavily on imports to meet the needs of its roughly 850,000 residents. Since 2008, ITFC has approved over US$799 million in trade finance for the country, focusing primarily on energy and food security.
The bulk of this support, around US$655 million, has gone to securing refined petroleum imports, ensuring that the nation maintains a stable fuel supply even amid global price fluctuations.
In 2023, ITFC partnered with the state-owned Société Comorienne des Hydrocarbures (SCH) to implement an Integrated Trade Solution, combining financing with training programs for staff in Tunisia. The initiative protects approximately 480 jobs, nearly 200 of which are held by women.
On the food front, ITFC approved a €20 million trade finance facility in 2024 to fund the import of staples such as rice, flour, sugar, oil, and meat. The program is expected to cover nearly a third of Comoros’ annual food needs, support 50–75 local small businesses, and safeguard more than 2,500 jobs.
The corporation has also worked with local banks, including AFG Bank and BDC, to expand access to Islamic finance tools, enabling local businesses to manage trade and investment more effectively.
Through these efforts, ITFC is helping Comoros build resilience against external shocks, support inclusive economic growth, and strengthen regional cooperation.
