The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) Group, has launched its Trade Connect Central Asia+ (TCCA+) Program.
The program aims to foster economic growth and regional integration among six Organization of Islamic Cooperation (OIC) member countries in the Central Asia region.
According to the statement, the program includes the countries of Azerbaijan, Kazakhstan, Tajikistan, Uzbekistan, and Kyrgyzstan, given the enormous potential for international trade in Central Asia and the ITFC’s mission to drive economic development within the member countries of the Organization of Islamic Cooperation (OIC).
According to the reports, “The TCCA+ Program represents a significant effort to harness the economic potential of Central Asia and Azerbaijan, aiming to create a more interconnected and prosperous regional economy.”
The ITFC program is part of its Integrated Trade Solutions strategy, aimed at developing trade between OIC member countries and beyond. It seeks to unlock growth in key sectors, including energy, agriculture, and machinery, enhance regional cooperation, and promote trade opportunities not only among OIC member countries but also in the global market.
Through various initiatives, ITFC continues to play a pivotal role in enhancing trade and economic development among OIC member countries, contributing to their sustainable growth and integration into the global economy.
Earlier this year, the Saudi Export-Import Bank (Saudi EXIM) and ITFC signed an implementation agreement for a $5 million line of financing in favor of Alizz Islamic Bank in the Sultanate of Oman under the KSA SMEs Export Empowerment Program.
The agreement aims to enhance the access of Saudi non-oil exports to Omani markets, promote export opportunities for the Kingdom’s small and midsize enterprises (SMEs), and attract Omani importers.
