ITFC CEO Reinforces Commitment to Bangladesh's Economic Development During Official Visit

28-02-2024

With over US$22 billion financing approved to date, we proudly serve as a vital developmental partner of Bangladesh, Eng. Sonbol commented during his meeting with  H.E. Sheikh Hasina Wazed, MP, Prime Minister of the Government of the People’s Republic of Bangladesh
 
Eng. Hani Salem Sonbol, Chief Executive Officer of the International Islamic Trade Finance Corporation (ITFC) and Acting CEO of the Islamic Corporation for the Development of the Private Sector (ICD), recently concluded a successful official visit to Bangladesh, further strengthening bilateral ties and reaffirming ITFC's commitment to supporting the nation's economic growth.

During his visit, Eng. Sonbol had the honor of meeting with Her Excellency Sheikh Hasina Wazed, MP, Prime Minister of the Government of the People’s Republic of Bangladesh, in Dhaka. Expressing gratitude for her hospitality and unwavering support, Eng. Sonbol reiterated ITFC's dedication to addressing Bangladesh's energy security requirements. Notably, he highlighted the recently finalized US$2.1 billion Financing Plan for 2024-2025 as a testament to ITFC's commitment to the nation's development.

Eng. Sonbol emphasized, "With over US$22 billion financing approved to date from IsDB and ITFC, we proudly serve as a vital developmental partner of Bangladesh. Our portfolio extends beyond energy financing, encompassing trade development programs, technical assistance, and funding to local banks. By meeting the rising demand for Islamic financing from corporate clients, our facilities further bolster Bangladesh's economic progress. Together, we are fostering economic growth and prosperity for the people of Bangladesh."
 
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Additionally, Eng. Sonbol held productive bilateral discussions with H.E Abul Hassan Mahmood Ali, MP, Honorable Minister of Finance and Governor of Islamic Development Bank for Bangladesh. The meeting underscored the strong partnership between ITFC and the Government of Bangladesh, with a focus on advancing energy security efforts and promoting private sector development through collaborative initiatives.

Further advancing the dialogue on energy security, Eng. Sonbol engaged with H.E  Md Nasrul Hamid, Honorable State Minister of Power, Energy and Mineral Resource, Bangladesh. Both sides reiterated their commitment to fortifying Bangladesh's energy security requirements, leveraging ITFC's expertise and support, which has exceeded US$18 billion in energy and private sector development since inception of ITFC in 2008.

Eng. Hani Salem Sonbol's visit underscores ITFC's unwavering commitment to Bangladesh's economic development and reinforces its pivotal role as a trusted partner in advancing the nation's development goals.