Jeddah: The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group, on Tuesday signed a $100 million financing agreement with the Turkish Development and Investment Bank.

The agreement aims to support the agricultural industry, food sector, food security, renewable energy, and infrastructure in Türkiye.

ITFC Chief Executive Hani Salem Sonbol stated that this collaboration strengthens their joint commitment to economic development and allows them to expand their support to both private- and public-sector economic operators, address food security needs, and contribute to Türkiye's growth.

The Development and Investment Bank of Türkiye explained that this funding is another step in their efforts to address the challenges and ongoing need for food security.

It also will contribute to the development and growth of Türkiye, and they hope to strengthen their cooperation in the future.