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ITFC and the Republic of Cameroon Sign a US$750 Million Three-year Framework Agreement to Support Cameroon’s Key Sectors through Integrated Trade Solutions

ITFC and the Republic of Cameroon Sign a US$750 Million Three-year Framework Agreement to Support Cameroon’s Key Sectors through Integrated Trade Solutions

Finance
The International Islamic Trade Finance Corporation (ITFC) (ITFC-IDB.org), a member of the Islamic Development Bank Group (IsDB) and the Republic of Cameroon have signed on April 12, 2021 two agreements in a virtual signing ceremony between H.E. Alamine Ousmane Mey, Minister of Economy, Planning and Regional Development (IsDB Governor) and Eng. Hani Salem Sonbol, CEO, ITFC. The first signing is a three-year framework agreement amounting to US$ 750 Million under which ITFC will provide to Cameroon a financing envelop of US $ 250 Million annually over a period of three years to facilitate the imports of key commodities in the strategic sectors of energy, mining, in addition to the health sector with medical supplies including healthcare equipment. It will also sustain its already strong ...