Maldives Signs MoU with ITFC for Blue Carbon Generation Project
During the Islamic Development Group Annual meeting, the Government of the Republic of Maldives and the International Islamic Trade Finance Corporation (ITFC) inked a Memorandum of Understanding (MoU) today, aimed at fostering cooperation in the Blue Carbon Generation Project.
Representing the Maldivian government, Finance Minister Dr. Shafeeq and CEO of ITFC, Eng. Hani Salem Sonbol, signed the agreement.
The ITFC, a member of the Islamic Development Bank (IsDB) Group, stands as a key player in facilitating trade among OIC member countries, with a mission to boost socioeconomic development.
In his remarks on the signed agreements during the IsDB Annual Meetings, Eng. Hani Salem Sonbol highlighted the significance of these milestones in ITFC's mission, coinciding with the IsDB Group's 50th anniversary.
He emphasized their role in promoting trade and fostering socioeconomic growth across member countries.
These agreements, signed during the IsDB Annual Meetings are a significant milestone in ITFC's mission as we celebrate 50 years of the IsDB Group's commitment to human development. They are pivotal to our efforts to promote trade and enhance socio-economic development across our member countries. From advancing SME development to empowering local financial institutions, ITFC sets the stage for a sustainable economic future. We are proud to reinforce our commitment to fostering robust trade ecosystems that support the dynamic needs of our Member Countries and their communities
stated CEO of ITFC Eng. Hani Salem Sonbol
In addition to the MoU signing, Minister Shafeeq and CEO Sonbol discussed prospective efforts to diversify the Maldivian economy, reflecting the ongoing dialogue between the government and ITFC to explore avenues for economic development and growth.
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