The International Islamic Trade Finance Corporation (ITFC) has signed a $1 billion framework agreement with Mauritania to support trade financing and economic development in the West African country over the next five years.
The agreement, which covers the 2026–2030 period, was signed at the headquarters of the Islamic Development Bank Group in Jeddah, Saudi Arabia.
Under the arrangement, ITFC will mobilise financing and technical support for priority sectors of the Mauritanian economy, particularly energy, banking and private sector development.
The agreement was signed by Mauritania’s Minister of Economic Affairs and Development, Abdallah O. Souleymane O. Cheikh-Sidia, and the Chief Executive Officer of ITFC, Adeeb Yousuf Al Aama, during the minister’s official visit to the institution’s headquarters.
Officials said the partnership will help facilitate financing for energy imports, provide trade finance facilities and confirmation lines for letters of credit to local banks, and expand support for small and medium-sized enterprises.
The programme will also include technical assistance initiatives aimed at improving agricultural productivity and strengthening trade facilitation across key sectors of the Mauritanian economy.
Mauritania has been a partner of ITFC since the organisation’s establishment in 2008, with cumulative approvals exceeding $1.2 billion to support the country’s trade and development programmes, according to the institution.
