The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) Group, has signed a five-year framework agreement with the Islamic Republic of Mauritania valued at US$1.0 billion (about KES 129.0 billion) to support the country’s trade finance and economic development priorities over the 2026–2030 period.

The agreement was signed on March 10, 2026 in Jeddah, Saudi Arabia, during an official visit by Mauritania’s Minister of Economic Affairs and Development and IsDB Governor, H.E. Dr. Abdallah O. Souleymane O. Cheikh-Sidia, to the IsDB Group headquarters, according to a statement from ITFC distributed by APO Group.

ITFC said the agreement was signed at its headquarters by H.E. Dr. Abdallah O. Souleymane O. Cheikh-Sidia and Eng. Adeeb Yousuf Al Aama, Chief Executive Officer of ITFC. The signing was witnessed by H.E. Mohamed Lemine Dhehby, Governor of the Central Bank of Mauritania and IsDB Alternate Governor for Mauritania, alongside representatives from ITFC and members of the Mauritanian delegation.

Under the framework, ITFC said it will mobilise financing and technical support for priority sectors of the Mauritanian economy, with a focus on energy, banking and private sector development. The planned support includes financing for the import of energy commodities, trade finance facilities and confirmation lines for letters of credit to local banks, and support for small and medium-sized enterprises (SMEs).

ITFC added that the package will also include technical assistance programmes aimed at enhancing agricultural productivity and promoting trade facilitation in strategic sectors.

“Speaking during the occasion, H.E. Dr. Abdallah O. Souleymane O. Cheikh-Sidia, Minister of Economic Affairs and Development of Mauritania, highlighted that the agreement will help mobilize critical financial resources to support national development priorities and foster sustainable economic growth,” ITFC said in the release.

Eng. Adeeb Al Aama, CEO of ITFC, said the agreement “demonstrates ITFC’s continued commitment to supporting its member countries through trade-driven development and will help strengthen key sectors of Mauritania’s economy while expanding opportunities for trade and investment,” according to the statement.

The deal adds to a growing role for development finance institutions in structuring trade-linked funding to address import needs—particularly for energy—while supporting local financial systems via instruments such as confirmation lines for letters of credit. For banks, these arrangements can help manage counterparty risk and improve access to international suppliers, especially in markets where foreign exchange constraints and balance of payments pressures can disrupt trade flows.

For East Africa, including Kenya, the announcement underscores a broader trend within the IsDB ecosystem: channeling large, multi-year trade finance frameworks into member countries, often tied to energy imports, bank liquidity for trade, and SME support. Such programmes can influence regional competition for concessional and trade-linked funding, while shaping trade corridors as member states expand import capacity and strengthen local banking relationships with international counterparties.

ITFC said Mauritania has been a partner since the institution’s inception in 2008, with cumulative approvals exceeding US$1.2 billion (about KES 154.8 billion) for projects supporting key sectors. The corporation’s next steps under the new framework are expected to involve rolling out specific financing lines and technical assistance programmes aligned with the priority sectors identified in the agreement.