The International Islamic Trade Finance Corporation (ITFC), Saudi Export-Import Bank (Saudi EXIM), and the OPEC Fund for International Development have signed a $100 million syndicated Murabaha financing facility to support Bangladesh’s fertilizer imports, reinforcing the nation’s food and energy security.
The facility, signed in favor of the People’s Republic of Bangladesh, will be channelled through the Bangladesh Agricultural Development Corporation (BADC) for the purchase of fertilizers from Saudi Arabia. It marks ITFC’s first sovereign financing to Bangladesh for fertilizer imports, expanding its long-standing partnership beyond energy while deepening trade cooperation among OIC member states.
This initiative is part of a wider $2.75 billion financing package agreed in December 2024 between ITFC and the Government of Bangladesh for the 2025–2026 fiscal year. The broader program covers critical commodities, including petroleum, LNG, and fertilizers, underscoring the country’s focus on agricultural resilience and energy stability.
Bangladesh’s agriculture sector contributes around 11% of GDP and employs more than one-third of the workforce. Fertilizer imports under the facility are expected to benefit nearly 7.9 million people, particularly rice farmers, who play a central role in safeguarding national food security.
ITFC CEO Eng. Adeeb Y. Al Aama hailed the agreement as a milestone in intra-OIC cooperation, noting that it strengthens trade flows and supports inclusive growth. Bangladesh’s Economic Relations Division Secretary, Md. Shahriar Kader Siddiky described it as vital to ensuring an uninterrupted fertilizer supply and protecting rural livelihoods.
Saudi EXIM CEO H.E. Eng. Saad bin Abdulaziz AlKhalb emphasized the deal’s alignment with Saudi Vision 2030 by advancing non-oil exports and expanding trade links. OPEC Fund President Dr. Abdulhamid Alkhalifa highlighted the importance of the financing in boosting agricultural productivity, diversification, and resilience in a sector vulnerable to climate risks.
The initiative also advances UN Sustainable Development Goals, including Zero Hunger, No Poverty, and Good Health and Well-being. Since 2008, ITFC has provided more than $20.8 billion in financing to Bangladesh, largely in energy.
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