ITFC signs US$90M agreement with Djibouti to boost energy

The International Islamic Trade Finance Corporation (ITFC) has signed a US$90 million syndicated facility with the Republic of Djibouti, executed through the Société Internationale des Hydrocarbures de Djibouti (SIHD), to strengthen the country’s procurement of refined petroleum products and energy security.

• Main announcement/action: ITFC signed a US$90 million syndicated facility with the Republic of Djibouti, with SIHD as the executing agency; the facility is intended to secure procurement of refined petroleum products used for electricity generation and national economic activity. Signing parties were Mr. Nazeem Noordali (COO, ITFC) and H.E. Ilyas Moussa Dawaleh (Minister of Economy & Finance).
• Background and related details: This intervention builds on ITFC’s historical support of US$1.7 billion to Djibouti since 2008 and aligns with a previously concluded US$600 million three-year Framework Agreement (May 2023); the financing will prioritize sourcing from OIC member countries and links to UN SDG 7 (Affordable Energy).