Category: English

The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-idb.org), a member of the Islamic Development Bank (IsDB) Group, has been recognized with a GTR (Global Trade Review) Best Deals of 2025 for its innovative US$150 million Murabaha financing facility, to support Türkiye’s post-earthquake economic recovery.

Executed in close partnership with the Ministry of Treasury and Finance of the Republic of Türkiye, the Industrial Development Bank of Türkiye (TSKB), and the Development and Investment Bank of Türkiye (TKYB), this landmark Shariah-compliant financing was the first Islamic trade finance facility designed for post-disaster recovery.

The financing was developed in response to the devastating earthquakes that struck Türkiye in February 2023, resulting in an estimated US$100 billion in damages and disrupting over 220,000 businesses. The facility delivered working capital support and laid the foundation for sustainable economic revival in key sectors including food security, agriculture, and trade.

Commenting on the award, Nazeem Noordali, Chief Operating Officer, ITFC highlighted, “This award is a testament to our continued commitment to support trade-driven resilience. By partnering with Türkiye’s public sector and key development banks, we have introduced an Islamic finance solution that strengthens recovery and supports long-term trade sustainability.”

Ms. Sedef Aydaş Head of Department the Republic of Türkiye Ministry of Treasury and Finance, stated that ITFC is one of the first financing organizations showing its willingness to support Türkiye’s post-earthquake economic recovery and added that: “We as Ministry of Treasury and Finance are delighted and thankful to receive GTR Best Deal of 2024 with the first transactions with ITFC for its financing support to Türkiye regarding food security, agriculture and SME trade financing in the earthquake region. I hope the deals we had with ITFC will be one of the landmark projects for future transactions in various areas.”

The project has also accelerated the adoption of Islamic trade finance solutions in Türkiye’s public sector. TSKB and TKYB utilized the opportunity to develop new Shariah-compliant frameworks with strategic impact across other sectors like renewable energy, climate resilience, employment and inclusive development. It also opened new avenues for Islamic financing in Türkiye’s public sector, paving the way for future Murabaha based financing from international players.

Commenting on the award, Ms. Meral Murathan, Executive Vice President & Sustainability Leader of TSKB, said: “As Türkiye’s first privately-owned development and investment bank, we have been committed to supporting sustainable and inclusive development for the past 75 years. In the aftermath of the February 2023 earthquake, we placed the sustainable redevelopment of the affected regions at the core of our mission. The US$ 150 million Murabaha-based agreement we signed with ITFC in August 2024 marks the first cooperation between TSKB and ITFC. We are pleased to have structured this partnership to support trade-driven recovery and resilience in the earthquake-impacted areas by addressing the urgent needs of local businesses.”

The award was presented at the GTR Best Deals 2025 ceremony, where ITFC representative alongside officials from the Ministry of Treasury and Finance of the Republic of Türkiye and TSKB.

İbrahim H. Oztop, the CEO of the Development and Investment Bank of Türkiye commented “We are very pleased to be involved in this transaction, executed in collaboration with ITFC, our partner institution. This financing not only represents a step forward in strengthening our corporate financing structure but also helps us to achieve our strategic goals. We consider this award as a recognition of our institution’s vision and mission on an international level.”

This recognition reinforces ITFC’s leadership in Islamic trade finance solutions and its contribution to achieving SDG 8 (Decent Work & Economic Growth) and SDG 9 (Industry, Innovation & Infrastructure).

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

Contact Us:
Tel: +966 12 646 8337 
Fax: +966 12 637 1064  
E-mail: ITFC@itfc-idb.org

Social Media:
Twitter: https://apo-opa.co/449UUsq
Facebook: https://apo-opa.co/3G6J6hv
LinkedIn: https://apo-opa.co/40Ac5AZ

About the International Trade Finance Corporation (ITFC):
The International Islamic Trade Finance Corporation (ITFC) is a member of the Islamic Development Bank (IsDB) Group. It was established with the primary objective of advancing trade among OIC member countries, which would ultimately contribute to the overarching goal of improving the socioeconomic conditions of the people across the world. Commencing operations in January 2008, ITFC has provided more than US$83 billion of financing to OIC member countries, making it the leading provider of trade solutions for member countries’ needs. With a mission to become a catalyst for trade development for OIC member countries and beyond, the Corporation helps entities in member countries gain better access to trade finance and provides them with the necessary trade-related capacity building tools, enabling them to successfully compete in the global market.

Download logo

The United Kingdom has significantly reinforced its commitment to boosting Ethiopia’s economic landscape, with Baroness Jane Ramsey of Wall Health, the UK Prime Minister’s Trade Envoy to Ethiopia, leading a crucial meeting with H.E. Semereta Sewasew, State Minister at the Ministry of Finance. As one of only 32 global Trade Envoys, Baroness Ramsey expressed her profound honor in her role and her eagerness to cultivate strong ties with Ethiopian partners and investors. The UK is keen to help Ethiopia expand and grow business and investment, aligning its support for Ethiopia’s economic reform efforts with both multilateral and bilateral development initiatives.

Discussions during the meeting centered on Ethiopia’s evolving business environment, with Baroness Ramsey acknowledging notable improvements in the investment climate. H.E. Semereta Sewasew stressed the vital need for regulatory reforms, especially within the banking sector, alongside reforms in foreign exchange and governance, to foster a more open and competitive investment environment.

The UK’s interest in Ethiopia spans several key sectors that are ripe for collaboration and investment. In telecommunications, the UK considers the potential introduction of a third operator to be “very, very important,” recognizing Ethiopia’s vast population and the opportunity to serve up to 200 million users. This development could significantly enhance connectivity across the country.

In the creative industries, a substantial investment of £120 million was discussed, aimed at supporting sustainable creative ventures. The goal is to help these industries expand and thrive, thereby promoting economic diversification and creating new jobs. The agro-industry sector also features prominently in the UK’s investment plans. A notable example is a $300 million project focused on advancing crop production for dairy processing. The discussion highlighted that this initiative is currently assessing its environmental and social impacts and will begin with the development of processing plants in its pre-production phase. The UK is actively investing in this sector, aiming to boost agricultural productivity and add value through processing.

Mining remains another key area, with gold mining specifically identified as a significant sector. This reaffirms the UK’s ongoing commitment to investing and collaborating within Ethiopia’s mining industry. In financial services, the UK expressed strong enthusiasm about engaging with Ethiopia’s newly opened financial sector. Emphasizing the importance of a competitive regulatory framework, particularly within banking, the UK sees great potential for growth and modernization.

Finally, progress was reviewed on major infrastructure projects, including new airports and Ethiopia Electric Power initiatives on the country’s east side. Updates on the approval processes for these projects underscored the ongoing efforts to advance Ethiopia’s infrastructure development.

H.E. Semereta Sewasew acknowledged that these sectors represent vital opportunities for strengthening UK-Ethiopia partnerships, driving economic growth, and fostering sustainable development. Baroness Ramsey reiterated the UK’s unwavering commitment to working closely with the Ethiopian government and stakeholders. She emphasized the importance of unlocking further investment and fostering a strong, mutually beneficial economic partnership, with the UK looking forward to continuing these vital discussions and collaborating on these important initiatives to support Ethiopia’s economic development.

Distributed by APO Group on behalf of Ministry of Finance, Ethiopia.

Download logo

The United Nations Industrial Development Organization (UNIDO), through its Learning and Knowledge Development Facility (LKDF) and with the support of the Swedish International Development Cooperation Agency (Sida), convened the LKDF Forum 2025 under the theme “Skills Development and Local Value Addition: Ensuring Sustainable Growth in Global Supply Chains.” The Forum took place both online and in-person at the World of Volvo in Gothenburg, Sweden. 

Achieving sustainable, ethical supply chains requires transforming industrial processes, business relations, and workforce skills, with local value addition key to reducing dependency on external inputs and boosting resilience. For emerging markets, building local capabilities diversifies economies and creates jobs; for multinationals, localizing supply chains offers market growth, risk mitigation, and regulatory compliance. UNIDO’s Director General Gerd Müller opened the event by calling for greater investment in skills for responsible, future-oriented supply chains, declaring “To build competitive and resilient supply chains with more local value addition, more high value manufacturing and services, more market access, [and] more prosperity, skills development is absolutely key.” 

Maria Tegborg, Acting Head of the Global Department of Sida, echoed this message, underscoring the role of technical and vocational education and training (TVET) in bridging skills gaps and improving economic outcomes, stating “we must continue to invest in skills development to ensure that supply chains operate responsibly.”

The Forum highlighted how localizing skills and competencies across value chains—particularly in manufacturing, energy, healthcare, and industrial processing—is key to enabling multinational corporations and developing countries to thrive.   

UNIDO’s Virpi Stucki stressed the need for systemic approaches to workforce development, explaining that strong policy frameworks and transparent supply chains must support sustainable value addition. “When combined with strong policy direction and stakeholder engagement along the way, developing the labour force can be a continuing input into national benefit,” she noted.    

Anchoring programs in local priorities and ambitions was also a recurring theme. Enabel’s Charlotte Vanstallen stressed, “It all starts, I think, with the local objective and the local focus and the [local] ambition… it cannot be mentioned enough.” Participants agreed that without a strong local perspective, initiatives risk being ineffective or unsustainable. Early engagement of local stakeholders and tailoring programs to community needs make efforts more demand-driven, effective, scalable, and foster stronger ownership and lasting impact. 

The discussion recognized  the importance of soft skills, sustainability literacy, ESG compliance, and attention to the informal economy, which still represents the majority of employment in many parts of the world. In this context, Caterina Occhio, Economic Inclusion and ESG Advisor at UNIDO, emphasized the power of social procurement models to professionalize informal labour, raise compliance standards, and promote living wages—contributing to what she described as a “culture shift” for sustainable sourcing. 

The Forum underscored the need for strong cross-sectoral partnerships to close the skills gap across supply chains. UNIDO’s Public-Private Development Partnerships (PPDP) were highlighted as an effective model for aligning vocational training and education with industry demands. By leveraging the strengths of both sectors, these partnerships foster targeted training programs that integrate technical skills with sustainability practices.   

The Forum welcomed 37 in-person participants and 231 online attendees,  from public and private sectors, civil society, academia, and international organizations. Among the distinguished participants were representatives from the Swedish International Development Cooperation Agency (Sida), the European Commission, the African Union Development Agency-NEPAD, the African Development Bank Group (AfDB), the World Trade Organization (WTO), the Volvo Group, Siemens Healthineers, Enabel, Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), Festo Didactic, and numerous Swedish and international companies representing a wide range of global value chains.   

The first day of LKDF Forum 2025 concluded with a strong call to action: align national industrial policies with education and training reforms, strengthen cooperation at regional and global levels, and place local communities at the centre of development strategies. Participants were united in the view that sustainable industrialization will depend on holistic, inclusive, and partnership-based approaches to skills development and value addition.   

The second day of the LKDF Forum 2025 featured a co-creation workshop facilitated by UNIDO’s LKDF team in partnership with the Volvo Group. Participants from public, private, and development sectors engaged in strategic discussions aimed at fostering actionable, cross-sector collaboration to strengthen skills ecosystems. This interactive session enabled meaningful exchanges and connections among attendees, laying the groundwork for future partnerships across industries and generating thirteen new PPDP project ideas. The day continued with a guided visit to the Volvo Trucks Experience Facility, where participants learned about Volvo’s history, explored the latest innovations in truck manufacturing, and even had the opportunity to test drive several vehicles. 

Distributed by APO Group on behalf of United Nations Industrial Development Organization (UNIDO).

The Principal Secretary for Foreign Affairs, Ambassador Vivianne Fock Tave received the outgoing Ambassador of the Kingdom of Norway to the Republic of Seychelles, H.E. Mr Gunnar Andrea Holm at Maison Quéau de Quinssy on Tuesday 01st July 2025.

Principal Secretary Fock Tave thanked Ambassador Holm for the work done during his tour of duty, noting that the bilateral cooperation between Seychelles and the Kingdom of Norway has strengthened, namely in the fields of capacity building, climate change and maritime security through EUNAVFOR Operation ATALANTA and the Combined Maritime Forces (CMF).

They touched on the issue of drug trafficking, whereby Norway is working alongside the UNODC on an information sharing mechanism with the Seychelles to help tackle this scourge.

Plastic pollution was another issue addressed, with Norway being the co-chair of the High Ambition Coalition to End Plastic Pollution.

Climate change, tourism and current international and regional issues were among the other topics broached by PS Fock Tave and Ambassador Holm during his farewell call.

Distributed by APO Group on behalf of Ministry of Foreign Affairs and Tourism, Republic of Seychelles.

Download logo

The Portfolio Committee on Cooperative Governance and Traditional Affairs (COGTA) has learned with shock about the brutal assassination of Mr Mpho Mafole, the City of Ekurhuleni’s group divisional head of corporate and forensic audits.

According to media reports, the 47-year-old was gunned down on Monday while driving along the R23 in Esselen Park. Police reportedly discovered Mr Mafole’s body inside his vehicle, riddled with gunshot wounds.

Mr Mafole, who was appointed to the position only three months ago, brought with him an impressive track record of public service, including 14 years in the Office of the Auditor-General of South Africa. He was tasked with uncovering financial irregularities and promoting transparency in the City of Ekurhuleni, one of the country’s largest municipalities.

Committee Chairperson Dr Zweli Mkhize said the nature of Mr Mafole’s work underscored the often-dangerous responsibilities undertaken by those at the forefront of rooting out corruption in our public institutions. “The committee condemns this cowardly and violent act as this not only threatens the lives of dedicated public servants but also seeks to intimidate and hinder efforts to build clean and accountable governance, particularly in our municipalities where systemic failures persist,” said the Chairperson.

Dr Mkhize said this tragedy is a stark reminder of the urgent need to strengthen the protection of whistleblowers and anti-corruption officials. “Reforms to safeguard those who speak out and act against corruption must urgently be expedited.” He said municipalities, and the rest of government, must uphold the highest standards of financial oversight and integrity.

The Chairperson also noted that this tragedy comes as the committee prepares for the start of extensive oversight visits across provinces to demand accountability from municipalities following the latest dismal municipal audit outcomes. “The committee will continue to exercise its oversight mandate, working with all spheres of government to ensure that those who risk their lives in service of public accountability are protected and that the rot that enables criminality is eradicated,” he said.

“The committee extends its heartfelt condolences to Mr Mafole’s family, colleagues, and loved ones during this difficult time. We urge law enforcement agencies to bring the perpetrators to justice swiftly.”

Distributed by APO Group on behalf of Republic of South Africa: The Parliament.

Download logo

His Excellency Mr. Gunnar Andreas Holm, Ambassador of Norway to the Republic of Seychelles, paid a farewell courtesy call to President Wavel Ramkalawan on Tuesday afternoon, marking the conclusion of his distinguished three-year diplomatic tenure.

During the meeting, President Ramkalawan expressed his profound appreciation for the robust bilateral relationship between Norway and Seychelles that has flourished under Ambassador Holm’s stewardship. The President commended His Excellency for his unwavering dedication and exemplary commitment to strengthening diplomatic ties between the two nations through the exploration of diverse avenues of cooperation.

“We are deeply grateful for your exceptional service and effort to deepen our partnership with Norway,” President Ramkalawan remarked. “Your dedication has been instrumental in advancing our shared interests and mutual values.”

The farewell meeting provided a valuable opportunity for both parties to reflect upon the key areas of cooperation that have characterized the Norway-Seychelles partnership during Ambassador Holm’s tenure. These collaborative initiatives have encompassed the blue economy, maritime security and sustainability, climate change mitigation, and environmental protection – sectors that remain at the forefront of joint efforts between the two nations, reflecting their unwavering commitment to sustainable development and ocean conservation.

In a gesture of enduring friendship, His Excellency Holm extended a gracious invitation to President Ramkalawan to undertake an official visit to Norway, further reinforcing the strong diplomatic bonds between the two countries. President Ramkalawan concluded the meeting by extending his best wishes to Ambassador Holm for success in his future endeavours and expressing confidence that the solid foundation established during his tenure will continue to yield mutual benefits for both nations.

The meeting was also attended by Mr. Chrystol Chetty, Honorary Consul for Norway, Ms. Wendy Isnard, Director General for Bilateral Affairs, and Mr. James Caprin, Desk Officer for Bilateral Affairs.

Distributed by APO Group on behalf of State House Seychelles.

Download logo

Alain Rusuku, Country Director, IRC Chad, said:

“Following concerns expressed by the World Health Organisation (WHO) about the spread of the unprecedented Cholera epidemic in Sudan to neighbouring countries, the International Rescue Committee (IRC) is launching prevention efforts, including raising awareness amongst vulnerable communities of how to prevent the spread of disease, to prepare for a possible cholera outbreak. With the rainy season approaching in Chad, health teams warn that the risk of an epidemic is increasing. We know how quickly flooding can overwhelm sanitation systems and create ideal conditions for the rapid spread of cholera. We’re working closely with communities to raise awareness and reduce risks before the disease reaches eastern Chad. This includes surveillance at the borders and awareness-raising in the camps, where the IRC is actively involved, alongside coordination with the Ministry of Health, local authorities, and partners to strengthen overall response preparedness.”

In Sudan, which is now the largest displacement crisis in the world, the epidemic saw a dramatic resurgence at the end of May, with more than 82,000 cases and over 2,100 deaths reported across the country, with Khartoum, South Darfur and East Darfur showing increasing trends. 

Distributed by APO Group on behalf of International Rescue Committee (IRC) .

Download logo

As part of its series of dedicated youth consultations, Deputy Special Representative of the Secretary General – Political, Stephanie Koury, held an online consultation on Sunday with fifty-seven young men and women from across the country to discuss their ideas on the next steps in the political process. 

All participants were encouraged to complete the online poll [link] and share it with their friends and families to ensure all community voices are heard by the Mission while designing the roadmap. 

A primary concern highlighted by participants was the volatile security situation and the need to prioritize stability to create an environment conducive to political progress. They further stressed the need for a clear and realistic roadmap with a mechanism for including those who are marginalized or have previously been excluded from the political process, and decision-making. 

“Inclusion should not be symbolic, it should be built into every part of government,” said one participant, adding, “we cannot build a lasting peace while regions, tribes and communities are under-represented or excluded.” 

Participants also flagged the importance of tackling the worsening economic situation, noting a degradation of services and the lack of transparency in managing public resources.  They further stressed the need to integrate a security dimension in the economic approach to provide youth with viable alternatives.  

“We must integrate young people who have joined armed groups back into society and state institutions,” said one participant. “We have to provide them with better economic opportunities.” 

In May, UNSMIL published the Executive Summary of the Advisory Committee’s Report which outlines four proposed options to move the political process forward: 

1. Conducting presidential and legislative elections simultaneously; 

2. Conducting parliamentary elections first, followed by the adoption of a permanent constitution; 

3. Adopting a permanent constitution before elections; or 

4. Establishing a political dialogue committee, based on the Libyan Political Agreement to finalize electoral laws, executive authority and permanent constitution.  

The different options presented by the Advisory Committee were broadly appreciated by the participants, with participants conveying different preferences. Participants also highlighted that working on the constitution was crucial to the process – some said that should come first, others after a parliamentary election. While several expressed support for option 4, some  also raised concerns that any dialogue forum created through option 4 would become permanent. In this regard, they emphasized the need for guarantees to prevent repeating past mistakes and put the country on a path of real change. 

Participants also criticized UNSMIL for not putting forward a roadmap at the UN Security Council briefing on 24 June, saying that they did not want to wait any longer.    

DSRSG Koury explained that the SRSG will be presenting the roadmap to the Security Council in her briefing in August, stating that we are moving forward as soon as possible but that the Mission also wanted all Libyans to participate in developing the upcoming roadmap.  

“It is important that sufficient consensus is built on a way forward and this includes through consultations like this, which we will be holding more of over the next month, to ensure that we reach as many people as possible. This process is about the Libyan people and for the Libyan people,” Koury said.   

DSRSG Koury further explained that Libya is not under chapter 7 in relation to the political process, but only for arms embargo and assets freeze, and thus, our role is to support and facilitate a Libyan led political process that addresses the Libyan people’s needs and aspirations.  

Further youth consultations will be taking place throughout July with more information available here.

Distributed by APO Group on behalf of United Nations Support Mission in Libya (UNSMIL).

Download logo

On Wednesday at around 7.30 a.m., an African Union helicopter operated by the Uganda Peoples’ Defence Forces (UPDF) contingent crash-landed just before touching down at the Aden Abdulle International Airport in Mogadishu, while enroute from the Baledogle military airbase.

Three of the eight passengers on board were immediately rescued and rushed to the African Union Support and Stabilisation Mission in Somalia (AUSSOM) Level II hospital in Mogadishu for medical attention.

Search and rescue operations are currently underway to retrieve the remaining crew and passengers.

Meanwhile, aviation authorities have commenced investigations to establish the cause of the accident.

Distributed by APO Group on behalf of African Union Support and Stabilization Mission in Somalia (AUSSOM).