The Worldwide Islamic Commerce Finance Company (ITFC) (www.ITFC-idb.org), a member of the Islamic Improvement Financial institution (IsDB) Group is happy to announce the Company’s lively participation on the ninth World World Evaluate for Commerce. This occasion, themed ‘Mainstreaming Commerce’, was held on the World Commerce Group’s (WTO) headquarters, in Geneva from June 26 to twenty-eight, 2024.
The World Commerce Group (WTO) Assist for Commerce Evaluate is a big international platform that brings collectively policymakers, improvement businesses, and commerce specialists to debate methods and initiatives to advertise commerce as a way of improvement. This 12 months’s theme highlighted the significance of integrating commerce into nationwide improvement methods for sustainable financial development.
The occasion was an event for ITFC to cement its strategic partnerships with the worldwide commerce neighborhood, discover new areas of cooperation, and current IsDB Group’s achievement with the publication of the IsDB Assist for Commerce Report.
A joint declaration was signed between Eng. Hani Salem Sonbol, CEO of ITFC; H.E. Ngozi Okonjo-Iweala, Director Normal of the WTO, Benedict Oramah, President and Chairman of the Board of the African Export-Import Financial institution (Afreximbank); Gerd Müller, Director Normal of UNIDO; Samaila Zubairu, President and CEO of the Africa Finance Company (AFC), and Pamela Coke-Hamilton, Govt Director of the Worldwide Commerce Centre (ITC). The joint declaration will strengthen cooperation in areas of widespread curiosity beneath the coalition ‘Partenariat pour le coton’ by establishing sustainable textile hubs, supporting non-public sector investments, and inspiring collaboration and advocacy in Africa and past.
The signature ceremony was adopted by a high-level panel session titled “Cotton to Clothes: Charting Pathways to Create Sustainable Jobs for Girls and Youth in West and Central Africa”. Mr. Sonbol underscored the long-lasting involvement of ITFC in cotton manufacturing previously 15 years: US$2 billion financed to attach companies and hundreds of thousands of smallholders’ cotton farmers to international worth chains. He additionally offered ITFC’s options applications as options to assist funding promotion, market entry, and capability constructing to allow the surroundings for a regional textile worth chain in Africa.
As well as, Eng. Hani Salem Sonbol participated in a panel session on “Financing Assist for Commerce—Regional Views,” highlighting the potential for financial transformation of OIC member nations by regional integration and showcasing IsDB Group synergy that permits to supply strong regional applications to OIC member nations in several continents.
Commenting on ITFC’s participation throughout the WTO Assist for Commerce Evaluate 2024, Eng. Hani Salem Sonbol, ITFC CEO, mentioned: “ITFC’s participation on the ninth World World Evaluate for Commerce is a transparent testomony to our good relations with the World Commerce Group and our assist for his or her mission of leveraging commerce to generate employment alternatives and enhance livelihoods. ITFC stays dedicated to strengthening present partnerships and leveraging new synergies to offer our member nations with commerce options greatest suited to international dynamics. We look ahead to additional supporting sustainable commerce, commerce finance, and worth creation by these strategic partnerships.”
Distributed by APO Group on behalf of Worldwide Islamic Commerce Finance Company (ITFC).
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In regards to the Worldwide Commerce Finance Company (ITFC):
The Worldwide Islamic Commerce Finance Company (ITFC) is a member of the Islamic Improvement Financial institution (IsDB) Group. It was established with the first goal of advancing commerce amongst OIC member nations, which might in the end contribute to the overarching purpose of enhancing the socioeconomic circumstances of individuals internationally. Commencing operations in January 2008, ITFC has supplied US$75 billion of financing to OIC member nations, making it the main supplier of commerce options for these member nations’ wants. With a mission to change into a catalyst for commerce improvement for OIC member nations and past, the Company helps entities in member nations acquire higher entry to commerce finance and offers them with the mandatory trade-related capacity-building instruments, which might allow them to efficiently compete within the international market.