A member of the Islamic Development Bank Group ITFC, Partners With UNIDO
A member of the Islamic Development Bank Group ITFC, partners with UNIDO to support Egypt’s cotton sector and Sudan’s dairy sector.
The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group (IsDB) and the United Nations Industrial Development Organization (UNIDO) held a high-level bilateral meeting to highlight two project agreements in a virtual kick-off ceremony with Eng. Hani Salem Sonbol, CEO of ITFC and LI Yong, Director General of UNIDO. Following the ceremony, the ongoing strategic partnership between the two entities was further discussed.
The projects will support two key initiatives: the first is the Better Cotton Initiative (BCI), which aims to revive the Egyptian cotton industry by supporting growers to cultivate sustainable cotton. The second project in Sudan, aims at transforming the country’s dairy sector which will see ITFC and UNIDO provide selected dairy enterprises with technical assistance for food safety production and will assist dairy plants to resume production. The two institutions will ensure that these sectors remain resilient with increased production, easier access to finance and an enhanced safe operating environment for workers.