International Islamic Trade Finance Corporation (ITFC)

The International Islamic Trade and Finance Corporation (ITFC) (, a member of the Islamic Development Bank (IsDB) Group, today announced the launch of the Voluntary Carbon Market Announced as the winning bidder in an initiative auction. first day of 6th Edition of Riyadh’s Future Investment Initiative (“FII”). The Public Investment Fund (“PIF” or “Fund”) announced that the auction resulted in his 1.4 million tonnes of carbon credits, the largest sale of carbon credits in history, according to the resource.

ITFC, Eng. ITFC CEO Hani Salem Sombor received the certificate from Yazid Al Humied, Vice President and MENA Investment Head, at the closing ceremony.

At this time, Sombol commented as follows. “This is a remarkable achievement of the ITFC towards innovation in green trade finance and the development of sustainable trade, supporting the efforts of OIC member countries to address the challenges of climate change, and contributing to the credit basket. Note that includes units generated by clean and sustainable energy projects in OIC Member States’.

The VCM initiative is a continuation of the PIF’s efforts to support Saudi Arabia’s green agenda and follows previous announcements by the IMF, including the completion of its first US$3 billion green bond, which the PIF has committed to Vision 2030. It is part of a commitment to develop 70% of Saudi Arabia’s renewable energy capacity.

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

Twitter: @ITFCCORP
Facebook: @ITFCCORP
LinkedIn: International Islamic Trade Finance Corporation (ITFC)
Phone: +966 12 646 8337
Fax: +966 12 637 1064
Email: [email protected]

About the International 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 purpose of facilitating trade between OIC member countries, ultimately contributing to the overarching goal of improving the socio-economic conditions of people around the world. The ITFC, which began operations in January 2008, has contributed US$66 billion to OIC member countries, making it a leading provider of trade solutions to meet the needs of these member countries. With a mission to be a catalyst for trade development in OIC member countries and beyond, the Corporation helps member country companies gain better access to trade finance and provides the necessary trade-related capacity-building tools. increase. Compete in the global market.

This press release was issued by APO. The content has not been overseen by the African Business editorial team and has not been checked or verified by an editorial team, proofreader or fact checker. The publisher is solely responsible for the content of this announcement.

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