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International Islamic Trade Finance Corporation (ITFC)

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    • International Islamic Trade Finance Corporation (ITFC) Delivers Impactful Trade Solutions in 2023 Amid a Changing and Challenging Global Environment
    • International Islamic Trade Finance Corporation (ITFC) Delivers Impactful Trade Solutions in 2023 Amid a Changing and Challenging Global Environment (AR)
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Source: International Islamic Trade Finance Corporation (ITFC) |

International Islamic Trade Finance Corporation (ITFC) Delivers Impactful Trade Solutions in 2023 Amid a Changing and Challenging Global Environment

The Annual Report Showcases ITFC Navigating Change and Driving Impact to Deliver Major Milestones and Significant Achievements

The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-idb.org), a member of the Islamic Development Bank Group (IsDB), proudly announces the release of its 2023 Annual Report, on the them "Navigating Change, Driving Impact." This report demonstrates ITFC's resilience and adaptability in supporting its member countries through strategic trade financing and…

President of the Republic of Kenya

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    • President Ruto To International Development Association (IDA): Enhance Concessional Funding
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Source: President of the Republic of Kenya |

President Ruto To International Development Association (IDA): Enhance Concessional Funding

President Ruto called for tripling of IDA’s financing capacity to $279 billion by 2030, while maintaining the essential concessional nature of its financing in accordance with the recommendations of the G20 Independent Expert Group

President William Ruto has led African heads of state and government in calling for increased concessional funding from the World Bank’s International Development Association (IDA). IDA supports low-income countries with grants and long-term low-interest loans for development. President Ruto called for tripling of IDA’s financing capacity to $279 billion by…

United Nations In Egypt
Source: United Nations In Egypt |

High-level visit to Suez Canal Economic Zone showcases the impact of the collaboration between United Nations’ Industrial Development Organization (UNIDO), Switzerland and Egypt on promoting Eco-industrial Parks as drivers of sustainable industrial development

This visit underscores the tangible outcomes of the Global Eco-Industrial Parks Programme (GEIPP) in Egypt, emphasising the commitment to fostering inclusive and environmentally responsible economic growth within the country

The visit of Minister Ahmed Samir, Ambassador Yvonne Baumann and Ms. Monica Rubiolo, representative of the Swiss State Secretariat of Economic Affairs (SECO) to the Suez Canal Economic Zone marks a significant milestone in the collaborative efforts of the United Nations’ Industrial Development Organization (UNIDO), Switzerland and the Ministry of…

The Republic of Uganda - Ministry of Foreign Affairs
Source: The Republic of Uganda - Ministry of Foreign Affairs |

Uganda And India to Strengthen Economic Ties

Both parties remained optimistic about the positive outcomes that could arise from this collaborative effort

In a bid to strengthen bilateral ties and explore potential investment opportunities, H.E, Upender Singh Rawat, on April 26th 2024 met with Hon. Oryem Henry Okello, Minister of State for Foreign Affairs (International Affairs) at the Ministry of Foreign Affairs. The meeting was a follow-up to the successful visit of…

East African Community
Source: East African Community |

A Big Win for East Africa with the Inclusion of Open Science in the East African Community EAC Science, Technology, and Innovation Policy (STI)

This marks a first for the region and Africa and is set to unlock the full potential of scientific research and drive sustainable development across East Africa

The 3rd East African Community (EAC) Regional Science, Technology, and Innovation (STI) Conference, held from 6 to 8 March, 2024 in Nairobi, Kenya, marked a significant milestone for the region with the launch of the East African Regional Science, Technology and Innovation Policy 2023-2033 and the East African Regional Intellectual Property (IP)…

United Nations Economic Commission for Europe (UNECE)
Source: United Nations Economic Commission for Europe (UNECE) |

Water Convention facilitates negotiations between Democratic Republic of Congo and Zambia on the establishment of the Luapula River and Lake Mweru Authority

The two Parties exchanged views and agreed on the language, content, scope and objectives of the proposed draft agreement, as well as a road map to complete the negotiation

The Water Convention has facilitated the First round of Technical & Planning Negotiations of the Draft ‘Agreement on the Establishment of the Luapula River and Lake Mweru Authority between the Democratic Republic of Congo (DRC) and Zambia on 18 and 19 April, concerning the transboundary Lake Mweru and Luapula River, a tributary…

African Development Bank Group (AfDB)

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    • $4 Trillion is New Annual Financial Target to Save Sustainable Development Goals, says African Development Bank’s Adesina
    • Africa is the worst affected region by climate change in the world, yet it receives the least in terms of climate financing. (Picture: floods in Nairobi, 24 April 2024. Credit: AFP)
    • 34 heads of state and government committed to implement country-led food and agricultural delivery compacts to achieve food security by 2030 at the Feed Africa Summit (Dakar 2) held in January 2023
    • The current annual investment of $4.5 billion in health infrastructure is significantly insufficient when measured against the actual need of $25 billion, said Dr. Adesina
    • “Islamic finance principles of shared prosperity, risk-sharing, and ethical investment present a clear path toward bridging the SDGs financing gap,” said Islamic Development Bank President Dr Mohammed Al Jasser
    • From left to right: African Development Bank Group President Dr. Akinwumi Adesina, Saudi Arabia’s Governor to the African Development Bank Dr Ryadh M. Alkhareif and Saudi Exim Bank CEO Engineer Saad Al-Khalb
    • From left to right: Dr. Akinwumi Adesina and Saudi Fund for Development CEO Sultan bin Abdulrahman Al-Marshad
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Source: African Development Bank Group (AfDB) |

$4 Trillion is New Annual Financial Target to Save Sustainable Development Goals, says African Development Bank’s Adesina

Adesina also spotlighted the African Development Bank’s strategic High 5 program as a cornerstone for progress, as underscored by an independent analysis by the United Nations Development Program

Adesina delivers keynote address as Islamic Development Bank marks its 50th anniversary; Climate and health initiatives are of paramount importance.  African Development Bank Group President Dr. Akinwumi A. Adesina has emphasized the critical need for significantly increased financing to meet the Sustainable Development Goals (SDGs). Speaking at the Islamic Development Bank’s…

International Islamic Trade Finance Corporation (ITFC)

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    • International Islamic Trade Finance Corporation (ITFC) Signs Multiple Agreements with Member Countries and Strategic Partners
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Source: International Islamic Trade Finance Corporation (ITFC) |

International Islamic Trade Finance Corporation (ITFC) Signs Multiple Agreements with Member Countries and Strategic Partners

Agreements Signed on the Sidelines of the 2024 Islamic Development Bank Group (IsDB) Annual Meetings

The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-idb.org), a member of the Islamic Development Bank (IsDB) Group, commenced the first day of the 49th IsDB Group Annual Meeting with a series of strategic meetings and important signings. Held at the Intercontinental Hotel, Riyadh, the first day of the annual meetings…

United Nations Economic Commission for Africa (ECA)
Source: United Nations Economic Commission for Africa (ECA) |

United Nations Economic Commission for Africa's (ECA) Claver Gatete urges youth to raise their voice in shaping Africa’s development

70 percent of the population in Africa are young people and that by 2030, 42 percent of the global youth will be from Africa

Economic Commission for Africa, Executive Secretary, Claver Gatete, has challenged African youth to raise their voice in shaping the future development of the continent ahead of the Summit of the Future. Opening the African Youth Consultative Forum on the UN Summit for Future held in Addis Ababa, Mr. Gatete, emphasized…

Department of Foreign Affairs, Republic of the Philippines
Source: Department of Foreign Affairs, Republic of the Philippines |

Philippines Ambassador to Kenya discusses Blue Economy, Potential Investments, People-to-People Exchanges with Mombasa Officials

Ambassador Tang commended Governor Nassir and the county government for their efforts to bring development to the citizens of Mombasa

Philippine Ambassador to Kenya Marie Charlotte G. Tang paid a courtesy call on Governor Abdulswamad Shariff Nassir of Mombasa County during her visit to the city of Mombasa on 21-23 April 2024. The two officials discussed their shared interest in the blue economy, with the Philippines being an archipelagic country…