OPEC Fund contributes $25 million to bolster food security in Bangladesh

Vienna [Austria], September 13: The OPEC Fund for International Development (OPEC Fund) is contributing US$25 million to a US$100 million syndicated Murabaha financing facility aimed at strengthening food security and agricultural resilience in Bangladesh.
The facility, arranged by the International Islamic Trade Finance Corporation (ITFC), also includes participation from the Saudi EXIM Bank, and will enable the Bangladesh Agricultural Development Corporation (BADC) to import critical fertilisers. These imports are expected to directly support the country's rice farmers and the wider 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.
Source: Emirates News Agency