ITFC secures $250 million deal with The Gambia and $1 billion agreement with Burkina Faso

The Gambia signed a new three‑year US$250 million financing framework with the International Islamic Trade Finance Corporation (ITFC) to fund priority sectors such as trade, energy security, food security and private‑sector development. The agreement, announced on June 16 at the Islamic Development Bank Group’s annual meetings, follows the full utilisation of a previous US$250 million framework launched in 2021 and aims to address structural challenges including limited electricity access, high food insecurity and economic concentration in tourism and agriculture.

Burkina Faaso signed a US$1 billion ITFC framework on June 19 in Baku, Azerbaijan, covering the 2026‑2030 period. The funding will be allocated to energy, agriculture, food‑security, health and private‑sector credit facilities, with disbursements scheduled gradually based on specific projects. The deal extends a cooperation that began in 2008, during which ITFC approved more than US$3.4 billion for Burkina Faso across 48 operations, notably in cotton agriculture and oil imports.