International Islamic Trade Finance Corporation (ITFC) Signs US$47.6 Million Financing Agreement with the Republic of Türkiye to Strengthen Health Services and Mitigate the Effects of Earthquakes

The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, signed a US$47.6 Million Murabaha Financing Agreement with the Ministry of Treasury and Finance (MoTF) of the Republic of Türkiye.  The signing ceremony took place in Istanbul on the sidelines of the COMCEC Meetings, where the agreement was signed by Eng. Adeeb Y. Al Aama, Chief Executive Officer of ITFC, and Mr. Kerem Dönmez, Director General of the Directorate General of Foreign Economic Relations at the Ministry of Treasury and Finance of the Republic of Türkiye.

This agreement marks a milestone in ITFC’s partnership with Türkiye, representing the first sovereign financing facility extended to the Republic of Türkiye and ITFC’s first intervention in the healthcare sector.

The US$47.6 million facility will be utilized to strengthen Türkiye’s healthcare system and mitigate the impact of the 2023 earthquakes. The financing will support the procurement of essential medicines and medical devices for distribution across 12 to 53 provinces, with a particular focus on areas most affected by the disaster. By improving access of critical healthcare resources to people, the facility aims to help restore vital medical services, enhance the resilience of health institutions, and contribute to the country’s ongoing recovery efforts.