The OPEC Fund for International Development (OPEC Fund) is contributing US$25 million to a US$100 million syndicated Murabaha financing facility designed to enhance food security and agricultural resilience in Bangladesh.
Arranged by the International Islamic Trade Finance Corporation (ITFC) and including participation from the Saudi EXIM Bank, the facility will enable the Bangladesh Agricultural Development Corporation (BADC) to import essential fertilisers, directly benefiting rice farmers and supporting the broader agricultural sector.
OPEC Fund President Abdulhamid Alkhalifa said, “The OPEC Fund is committed to supporting Bangladesh’s development agenda, where agriculture plays a central role, employing nearly half of the workforce. Bangladesh has made remarkable progress in achieving food security for its growing population.”
“The loan aligns closely with the OPEC Fund’s strategic priorities, particularly food security, and exemplifies our strong commitment to partnering with our member countries, such as Saudi Arabia, to advance South-South cooperation and sustainable development across the globe,” he added.
(Inputs from WAM)
