The International Islamic Trade Finance Corporation (ITFC) organized the 6th AFTIAS 2.0 Technical Committee (TCC) meeting virtually on November 10, 2024. The meeting saw participation from committee members representing ITFC, KSA, Mauritania, and TDFD. Eng. Hani Salem Sonbol, Chairman of the AFTIAS 2.0 Program, opened the session by welcoming the TCC members and commending their efforts in supporting the program. He also took the opportunity to remind the participants of the committee’s crucial role in evaluating and approving projects submitted for financing. These projects must meet the criteria and conditions set forth at the first AFTIAS 2.0 Board meeting and adhere to the new project approval mechanism, implemented on August 22, 2024.
Additionally, the CEO of ITFC spoke about the corporation’s role in managing the program and its ongoing efforts to minimize costs while ensuring governance, transparency, and efficiency of the highest standard. Since the launch of its second phase in October 2021, the program has approved 21 projects. The sixth TCC meeting approved two new projects:
The Chairman highlighted that these projects align with the AFTIAS 2.0 program’s goals, addressing regional, social, and developmental challenges in key industrial and service sectors. This includes areas such as digital transformation through mobile applications and the training of Certified Export Specialists in Egypt, potentially expandable to other Arab states for broader regional impact.
He reiterated ITFC’s commitment to ensuring that project implementing agencies adhere to the highest standards and the predefined timelines set for each project. The meeting concluded with the committee’s approval of the two aforementioned projects, benefitting Egypt and Djibouti.