ITFC Extends US$35 Million Financing to Support Djibouti’s Bunkering Sector

Saudi Arabia, February 06, 2026: The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) Group, has signed a US$35 million sovereign financing facility with the Republic of Djibouti to support the development of the country’s bunkering services sector and strengthen its position as a regional maritime and trade hub.

The facility was signed at ITFC’s headquarters in Jeddah by Eng. Adeeb Yousuf Al-Aama, Chief Executive Officer of ITFC, and H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti.

The financing is part of a broader US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Government of Djibouti. It is expected to contribute to economic growth and revenue diversification by enhancing the competitiveness and attractiveness of Djibouti Port as a “one-stop port” offering integrated vessel-related services.

Under the facility, Red Sea Bunkering (RSB), the executing agency, will procure refined petroleum products to strengthen bunkering operations. The initiative is expected to support revenue diversification, improve port services, and consolidate Djibouti’s role as a key logistics and trading hub in the Horn of Africa and the wider region.

Eng. Adeeb Yousuf Al-Aama, CEO of ITFC, said, “This financing reflects ITFC’s continued commitment to supporting Djibouti’s strategic development priorities, particularly in strengthening energy security, port competitiveness, and trade facilitation. We are proud to deepen our partnership with the Republic of Djibouti and contribute to sustainable economic growth and regional integration.”

H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti, said, “Today’s signing marks an important milestone in the development of Djibouti’s bunkering services and reflects our strong and valued partnership with ITFC, particularly in the oil and gas sector. This collaboration supports our ambition to position Djibouti as a regional hub for integrated maritime and logistics services. We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth.”

Since 2008, ITFC and the Republic of Djibouti have maintained a long-standing partnership, with total approved financing of approximately US$1.8 billion, primarily supporting the country’s energy sector and trade development objectives.