The Government of Maldives and the International Islamic Trade Finance Corporation (ITFC) have signed a $1.5 billion, five-year Framework Agreement to finance public and private-sector trade operations from 2026 to 2031.
- Signatories: Signed in Malé by Maldives Finance Minister Hassan Zareer and ITFC CEO Eng. Adeeb Yousuf Al Aama.
- Financing Scope: Funds the import and export of strategic commodities, supports state-owned enterprises, and expands financing lines for SMEs through local financial institutions.
- Technical Assistance: Includes advisory services and initiatives designed to strengthen trade capacity and improve access to international markets.
- Key Partner Operations: The State Trading Organization (STO) remains a principal partner, relying on ITFC's rollover facility since 2017 to ensure the uninterrupted bulk procurement of petroleum, staple foods, and medical supplies.
- Historical Context: ITFC has approved more than $3.3 billion in financing for the Maldives since beginning operations in 2008, following a previous $1.7 billion framework agreement that ran from 2019 to 2024.
- Delegation Visit: During the trip, CEO Al-Aama met with President Dr. Mohamed Muizzu and the central bank governor, and toured STO's food warehouses and the Funadhoo Oil Terminal to review commodity operations.
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