A ceremony was held yesterday at Kurumba Madlives for the signing of a Framework Agreement of 1.5 billion U.S. Dollars, with International Islamic Trade Finance Corporation (ITFC) for collaboration in trade and economic development.
This Framework Agreement was signed by Minister of Finance, Mr Ibrahim Ameer on behalf of the Government of Maldives and CEO, Eng. Hani Salem Sonbol on behalf of ITFC. The President, His Excellency Ibrahim Mohamed Solih graced the ceremony with his presence. They were joined by Members of the Cabinet and Ministers of the President’s Office.
The Framework Agreement signed today will mobilize financial resources up to 1.5 billion U.S. Dollars over a period of five years. These resources will be mainly used for import of fuel, trade facilitation support, and the development of agriculture and Small and Medium Enterprises.