An investment of $100 million in a syndicated Murabaha facility supporting rice farmers and agricultural resilience. Funding aims to strengthen Bangladesh’s agricultural sector while fostering South-South cooperation.
Supporting Agricultural Development
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. The initiative, arranged by the International Islamic Trade Finance Corporation (ITFC), also sees participation from the Saudi EXIM Bank.
The facility will enable the Bangladesh Agricultural Development Corporation (BADC) to import essential fertilisers, directly supporting rice farmers and strengthening the broader agricultural sector.
Strategic Commitment
Abdulhamid Alkhalifa, President of the OPEC Fund, emphasised the importance of agriculture to Bangladesh’s economy. “The OPEC Fund is committed to supporting Bangladesh’s development agenda, where agriculture employs nearly half of the workforce. The country has made remarkable progress in achieving food security for its growing population,” he said.
He added, “This loan aligns closely with the OPEC Fund’s strategic priorities, particularly food security, and exemplifies our strong commitment to partnering with member countries, such as Saudi Arabia, to advance South-South cooperation and sustainable development across the globe.”
The financing underscores the OPEC Fund’s continued focus on initiatives that address food security, promote economic resilience, and foster international partnerships within the global South.
