Burkina Faso Secures $1 Billion ITFC Deal to Support Agriculture, Energy, Health and Private Sector Growth
The International Islamic Trade Finance Corporation has signed a $1 billion framework agreement with the Government of Burkina Faso to strengthen trade finance support across key sectors over the next five years.
The agreement was concluded on the sidelines of the 2026 Islamic Development Bank Group Annual Meetings in Baku, reflecting continued cooperation between ITFC and Burkina Faso in advancing economic development priorities.
The signing was attended by H.E. Dr. Aboubakar Nacanabo, Burkina Faso’s Minister of Economy, Finance and Foresight, and Eng. Adeeb Yousuf Al Aama, Chief Executive Officer of ITFC, underscoring the strategic nature of the partnership.
Expanded Financing Framework
The new agreement builds on a previous €900 million framework signed in 2023, which is now nearly fully implemented with around 94 percent of financing already approved across priority sectors.
The latest $1 billion facility will continue supporting agriculture and energy while expanding financing into health and private sector trade activities, aligning with Burkina Faso’s national development agenda.
Since beginning operations in Burkina Faso in 2008, ITFC has approved more than $3.4 billion in financing, with agriculture accounting for 45 percent of approvals and energy representing 50 percent, particularly through support for cotton production and petroleum imports.
Sector Support and Operations
Current operations include a €100 million facility with SOFITEX to support cotton production for the 2025–2026 seasons and financing support for SONABHY to secure imports of refined petroleum products.
The agreement also provides a platform for expanding private sector trade finance solutions, aimed at improving access to funding for businesses and strengthening economic resilience in Burkina Faso.
ITFC emphasized that its long-term engagement is focused on reinforcing trade flows, supporting strategic industries, and enabling sustainable growth through targeted financing mechanisms.
