The International Islamic Trade Finance Corporation and the Trade and Development Bank Group have signed a new framework agreement in Abuja to increase an existing Murabaha trade finance facility by $100m, with a target to scale it up to $200m.

In a statement on Thursday, the partners said that the expanded facility is designed to strengthen TDB Group’s trade operations across member countries by supporting the import and export of strategic commodities and boosting liquidity for essential sectors.

It was reported that the deal was signed on the sidelines of the fifth Arab Africa Trade Bridges Program Board of Governors Meeting in Abuja. The AATB Programme focuses on trade, investment, insurance, and infrastructure to enhance economic cooperation.

The transaction builds on more than $800m in TDB participation in ITFC syndicated facilities, and the multilateral financial institutions have committed to further expanding their cooperation in 2026 and beyond.

The proposed facility aims to support TDB Group’s trade operations across key member countries, benefiting both the private and public sectors, supporting the import and export of strategic commodities and enhancing liquidity for essential sectors, particularly in markets where ITFC and TDB Group share development priorities.

Source: Punchng