Maldives and ITFC Collaborate on Blue Carbon Generation Project

The agreement was signed by Finance Minister Dr. Shafeeq representing the Maldivian government and Eng. Hani Salem Sonbol, CEO of ITFC.

ITFC, a member of the Islamic Development Bank (IsDB) Group, plays a crucial role in facilitating trade among OIC member countries, with a focus on boosting socioeconomic development.

Eng. Hani Salem Sonbol highlighted the importance of these agreements during the IsDB Annual Meetings, coinciding with the IsDB Group's 50th anniversary. He emphasized their significance 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," stated CEO of ITFC Eng. Hani Salem Sonbol. "They are pivotal to our efforts to promote trade and enhance socioeconomic 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."

In addition to the MoU signing, Minister Shafeeq and CEO Sonbol discussed potential efforts to diversify the Maldivian economy, reflecting the ongoing dialogue between the government and ITFC to explore avenues for economic development and growth.