ITFC, Burkina Faso Sign $1 Billion Trade Finance Deal to Support Agriculture, Energy and Private Sector Trade
The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group, has signed a $1 billion framework agreement with the Government of Burkina Faso to support key sectors of the country’s economy over the next five years.
The agreement establishes a financing framework aimed at strengthening trade and economic development, with a primary focus on agriculture and energy. It also opens the door for expanded support in the health sector and private sector trade activities.
According to ITFC, the funding will help sustain financing programs in Burkina Faso’s agricultural and energy industries while creating new opportunities to boost trade, improve access to essential resources, and encourage private sector growth. The initiative is expected to contribute to the country’s broader development and economic resilience efforts.
The agreement was signed on the sidelines of the 2026 IsDB Group Annual Meetings in Baku during a meeting attended by H.E. Dr. Aboubakar Nacanabo, Minister of Economy, Finance and Foresight of Burkina Faso, and Eng. Adeeb Yousuf Al Aama, Chief Executive Officer, ITFC.
The new framework builds on ITFC’s longstanding partnership with Burkina Faso, including the previous EUR900 million Framework Agreement signed in May 2023. That agreement is nearing full implementation, with approximately 94 percent of financing approved across sectors aligned with the country’s national development priorities.
The US$1 billion new agreement will provide a framework for continued financing in Burkina Faso’s agricultural and energy sectors while creating opportunities to expand support for health and private sector trade. Since commencing operations in Burkina Faso in 2008, ITFC has approved more than US$3.4 billion in financing. Agriculture represents 45 percent of total approvals, primarily supporting cotton campaigns, while energy accounts for 50 percent, including securing the imports of the national petroleum company, SONABHY.
Current ITFC operations in Burkina Faso include a EUR100 million financing facility with SOFITEX, the national cotton company, supporting the 2025&2026 cotton seasons. ITFC is also supporting the energy sector through a financing operation with SONABHY for the importation of refined petroleum products. In addition, the new agreement provides a platform to further develop private sector trade finance solutions in the country.
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About the International Islamic Trade Finance Corporation (ITFC): The International Islamic Trade Finance Corporation (ITFC) is a member of the Islamic Development Bank (IsDB) Group. It was established with the primary objective of advancing trade among OIC member countries, which would ultimately contribute to the overarching goal of improving socioeconomic conditions of the people across the world. Commencing operations in January 2008, ITFC has provided more than US$96 billion of financing to OIC member countries, making it the leading provider of trade solutions for these member countries’ needs. With a mission to become a catalyst for trade development for OIC member countries and beyond, the Corporation helps entities in member countries gain better access to trade finance and provides them with the necessary trade-related capacity building tools, which would enable them to successfully compete in the global market.
SOURCE: International Islamic Trade Finance Corporation (ITFC)
