ITFC and the Republic of Djibouti Sign US$90 Million Financing Agreement
Djibouti, Oct. 8 -- The International Islamic Trade Finance Corporation (ITFC) has signed a US$90 million syndicated facility in favor of the Republic of Djibouti, with the Societe Internationale des Hydrocarbures de Djibouti (SIHD), as the executing agency. The Aagreement was signed between Mr. Nazeem Noordali, Chief Operating Officer of ITFC, and H.E. Ilyas Moussa Dawaleh, Minister of Economy & Finance.. The facility will strengthen Djibouti's energy security by enabling SIHD to fulfill its mandate of securing the procurement of refined petroleum products. These products are vital for electricity generation and driving growth across all sectors of the economy. In addition, the initiative supports intra-OIC trade by sourcing petroleum prod...
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