ITFC for strengthening strategic partnership with Bangladesh

Chief Executive Officer (CEO) of International Islamic Trade Finance Corporation (ITFC) Eng. Hani Salem Sonbol expressed interest to strengthen strategic partnership with Bangladesh.

"The ITFC will also finance import of LNG (Liquefied Natural Gas) along with oil. Initially the ITFC will provide $500 million, the amount is expected to increase gradually," the ITFC CEO made the comment when he paid a courtesy call on State Minister for Energy Nasrul Hamid at his ministry, an official handout said.

During the meeting, they discussed various issues including matters of mutual interest.

Thanking the ITFC CEO, Nasrul Hamid said, "We will work together to enhance the existing relationship with ITFC. The economy size of Bangladesh is gradually increasing. There are huge investment opportunities in the ongoing and upcoming projects in Bangladesh."

He told journalists that during the meeting they elaborately discussed about investment and financing in oil refineries, oil and gas transportation pipelines, energy-efficient electricity and renewable energy.

"We want to provide uninterrupted electricity at an affordable price and in that case, the ITFC can assist in modernization of distribution and transmission systems," Nasrul added.

During the call on, Energy Division Secretary Md Nurul Alam, Petrobangla Chairman Janendra Nath Sarkar and ITFC General Manager Abdihamid Abu were present.