Dhaka – Bangladesh has signed its first-ever financing agreement with the International Islamic Trade Finance Corporation (ITFC) to support fertilizer imports, a significant step toward strengthening the country’s food security. The agreement, formalized on September 10, 2025, in Jeddah, Saudi Arabia, includes two financial instruments—a Master Murabaha Financing Agreement and a Syndicated Murabaha Financing Facility—under which ITFC will initially provide $100 million.
The ITFC, a member of the Islamic Development Bank (IsDB) Group, has previously supported Bangladesh’s energy sector by financing petroleum imports through the Bangladesh Petroleum Corporation (BPC). This marks the first instance of ITFC extending its financial support to fertilizer imports, according to a press release.
A three-member Bangladeshi delegation, led by Md Shahriar Kader Siddiky, Secretary of the Economic Relations Division (ERD), attended the signing ceremony. The delegation included Md Emdad Ullah Mian, Agriculture Secretary, and Md Kabir Ahmed, Deputy Governor of Bangladesh Bank. Siddiky signed the Master Murabaha Financing Agreement, while Mian signed the Syndicated Murabaha Financing Facility.
During the event, Siddiky highlighted ITFC’s role in supporting various sectors and emphasized that the agreement will bolster Bangladesh’s efforts to ensure food and energy security. He noted that international cooperation is vital for the country’s development plans. The financing is expected to facilitate the import and distribution of fertilizers, critical for domestic food production, aligning with Bangladesh’s broader food supply and trade finance programs.
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