Arab-Africa Trade Bridges (AATB) The International Islamic Trade Finance Corporation (ITFC) Announces “New Strategic Initiatives”
The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group (IDB), and its partners announced new strategic initiatives under the Arab-Africa Trade Bridges (AATB) program.
The leaders of the eight institutions and partner countries of the AATB program, as well as the Arab Bank for Economic Development in Africa (BADEA), the Islamic Development Bank (IDB), the Islamic Insurance Company of Investments and Credits to the Exports (ICIEC), the African Export and Import Bank (Afreximbank), the OPEC Fund for International Development (OFID) and the Kingdom of Morocco, met during meetings aimed at strengthening the economic integration of two African and Arab regions. The session also saw the accession of two new member states, namely the Arab Republic of Egypt and the Republic of Senegal.
“Through AATB, the ITFC and its partners will actively support the establishment of Zlecaf by strengthening economic integration and sustainable growth in Arab and African countries.
AATB projects totaling more than US $ 41.1 billion include reverse flow programs between Arab and African countries, export credit lines of credit, business twinning initiatives, insurance schemes export credit, trade finance products and a study for the establishment of a logistics platform in Africa.
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