1st AFTAIS 2.0 Program Technical Coordination Committee Meeting (TCC1)

AFTAIS 2.0 Program Technical Coordination Committee Meeting

The Technical Coordination Committee of the AfTIAS 2.0 Program met on 31 March 2022 at ITFC headquarters in Jeddah, under the chairmanship of Eng. Hani Salem Sonbol, CEO of the International Islamic Trade Finance Corporation (ITFC), Chairman of the Board of Directors of the AfTIAS 2.0 Program, and Chairman of the Committee above, to discuss and approve the first package of projects presented by Arab countries and organizations.

The committee’s 2022 membership includes representatives from donor countries and organizations such as the Kingdom of Saudi Arabia, the Arab Republic of Egypt, and the Arab Organization for Agricultural Development (AOAD), as well as a representative from the International Islamic Trade Finance Corporation (ITFC).

On this occasion, Eng. Hani Salem Sonbol, on behalf of the Islamic Development Bank Group, expressed his sincere thanks and appreciation to the Kingdom of Saudi Arabia, the Arab Republic of Egypt, the People’s Democratic Republic of Algeria, the Islamic Republic of Mauritania, the Arab Organization for Agricultural Development (AOAD), the Islamic Development Bank (IsDB), the International Islamic Trade Finance Corporation (ITFC), and the Trade Development Fund (TDFD) for their generous support to the AfTIAS 2.0 Program and their contributions to its budget, in support of joint Arab efforts in the field of trade development.

The members of the Technical Coordination Committee discussed possible funding for the implementation of nine project proposals received by the ITFC from four Arab countries—Egypt, Algeria, Mauritania, and Yemen—and three Arab organizations: the League of Arab States (LAS), the Arab Organization for Agricultural Development (AOAD), and the Arab Tourism Organization (ATO). These proposals include nine national and regional projects in various fields related to trade in the Arab region.

In his address to the members of the Committee, Eng. Hani Sonbol emphasized that all the projects presented to the esteemed Committee are backed by official requests from the governments of the respective countries and organizations. This gives us great optimism about their implementation, if approved, as they have been prioritized by the concerned countries and organizations within the foreign trade sector. Therefore, these countries will be committed to ensuring their successful implementation. We expect that these proposed projects will enhance the exports of the concerned countries and support the competitiveness of small and medium-sized enterprises in foreign markets over the medium and long term.

Eng. Hani also stressed that ITFC will do its utmost to reduce the costs of implementing the program while ensuring governance, transparency, and the quality of the project documents submitted. This will be done in close cooperation with the program’s focal points and based on the mechanisms approved by the AfTIAS 2.0 Program Board of Directors.

At the conclusion of the meeting, the Committee gave initial approval for the first package of projects under the AfTIAS 2.0 Program, consisting of three regional projects and five national projects.

AFTAIS 2.0 Program Technical Coordination Committee Meeting