The International Islamic Trade Finance Corporation (ITFC), Chairman of the AfTIAS 2.0 Program’s Board of Directors and Chairman of the Program’s Technical Coordination Committee inaugurated the fifth meeting of the Committee, which was held virtually on 25 March 2024.
Eng. Hani Sonbol welcomed the two new members of the Committee for the year 2024 in its fifth session: the representative of the Islamic Republic of Mauritania and the representative of the Trade Development Fund (TDFD). He reminded the Committee of its key responsibilities, particularly regarding the approval of projects presented according to the criteria and conditions of the Program, as approved at the first AfTIAS 2.0 Board meeting.
He highlighted the role of the ITFC in managing the Program and its tireless efforts to reduce costs while ensuring governance and transparency. Since the launch of its second edition, the Program has approved 21 projects. The fifth meeting of the Technical Coordination Committee was convened to approve five project documents, which were amended based on requests from the program’s beneficiaries or comments from the Committee. His Excellency reviewed the projects to be approved by the Technical Coordination Committee as follows:
The Chairman of the Committee emphasized that the five mentioned projects align with the general objectives of the AfTIAS 2.0 Program, as they possess regional, social, and developmental dimensions in important industrial and service sectors, such as food security, the pharmaceutical industry, and rural tourism development.
He also stressed that the ITFC would ensure that the project implementing agencies achieve complete transparency and maintain high-quality implementation for the program’s beneficiaries, in line with the pre-determined timetable for each project. Additionally, the next meeting of the Program’s Technical Coordination Committee will allow the project implementing agencies to submit their technical offers, helping to achieve the maximum possible technical benefit, rationalize expenditures, and ensure transparency and governance.