THE International Islamic Trade Finance Corporation (ITFC), member of the Islamic Development Bank (IDB) Group, participated in “Agroinvest” Forum Astana 2017 organized by “KazAgro”, the National Management Holding with the official support of the Ministry of Agriculture of the Republic of Kazakhstan. The Forum provided a platform to discuss the development of agro-industrial complex of Kazakhstan, and projects in the sphere of agriculture and investment. The Forum took place in the Hilton Garden Inn Hotel in Astana on Aug. 25, 2017.

Eng. Hani Salem Sonbol, CEO, ITFC, reemphasized IDB Group and ITFC’s role in supporting Kazakhstan’s development plans and specifically agricultural sector. “Kazakhstan’s strategic initiative to establish the Islamic Organization for Food Security (IOFS) is a clear manifestation of the importance of the food security for the entire OIC member countries and the global role that Kazakhstan intends to undertake in this direction. ITFC also expressed its commitment to support the Republic of Kazakhstan in its noble objective of becoming the food basket of the Islamic world within the wider framework of the OIC Food Security initiative.”

ITFC started providing trade financing in 2010 to the Republic of Kazakhstan, to date, ITFC financing amounted to $810 million, of which the majority allocated for supporting the agriculture sector.

In his speech, Eng. Sonbol also said: “ITFC will seek greater cooperation with all relevant stakeholders that is, Government authorities, state owned enterprises, private sector entities and local banks to share experience and migration of best practices. Above all, the unabated support from the Government in the effective enforcement of laws and regulations will be of utmost importance to attract serious investors.” — SG