Economy, News

Gambia Inks US$210 million Deal With ITFC

(JollofNews) – The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IDB) Group, signs a Framework agreement with The Gambia that ensures a total amount of US$210 Million to be financed over a period of three years.

The deal was on the sidelines of the IDB Group’s 42nd Annual Meeting in Jeddah, Saudi Arabia by Amadou Sanneh, minister of Finance and  Economic Affairs of the Gambia  and Hani Salem Sonbol, governor of the Islamic Development Bank and chief executive Officer of ITFC.

The agreement is for the purpose of financing the imports of energy products such as petroleum products and the support of the key agricultural commodities such as fertilizers, pre-export financing for groundnuts and cashew nuts. ITFC will excel efforts to mobilize financial resources from banks and financial institutions to finance these imports.

Commenting on this event, Eng. Hani Salem Sonbol, CEO ITFC said: “As a leading Islamic Trade Finance Solutions Provider, this agreement is a milestone to boost the main sectors of the Gambia. Energy and agriculture are critical for supplying the country with fuel and electricity, in addition to develop the farming sector.”

On his part, Amadou Sanneh complemented on their successful business and relationship with the IDB Group and ITFC in specific.

He added:“It’s a honour for the Gambia to sign the agreement with ITFC to finance the supply of petroleum products and agricultural commodities. Its an action within the Framework Agreement to evaluate and enhance the value addition to the development of our economy ”

20 Comments

  1. WOW !!! More to come;

  2. NATIONAL
    Gambia’s President sleeps during Trump’s Riyadh speech

    Written by SMBC on May 21, 2017
    Gambia’s very tired president, Adama Barrow was caught “taking a needed nap” while U.S. President Donald Trump was delivering a speech at the Islamic-American Summit in Riyadh, Saudi Arabia.

    It is the very first international summit for both real estate developers, who shocked the world with their election victories last winter.

    “It is unfortunate that President Barrow had to sleep at the summit but it is evident that he is tired and not well rested before traveling to and upon reaching Saudi Arabia,” said SMBC political analyst Sam Phatey.

    • I submit that I would not Lose Sleep over Donald Trump’s Speech anywhere, but especially in Suadi Arabia given his Vitriol and Attack on Islam and Muslims to name a few. Unlike most who expressed a Dismissive attitude toward​ Barrow’s Slumber in Publi in Saudi Arabia during a Speech, mine is not one of Hypocracy and Double Standards. This is because I am one of those who believe that Barrow is a nice guy fit for your run of mill lower level management. He is Not ready for the big time, Prime time Task of the Presidency of a Nation State like the Gambia that is Confronted with the immense task of Navigating the Gambia through it’s Difficulties. The “No, “Nos”, or “Do Not” that the the same gang who Excuse or Dismisses Barrow’s Shortcomings but Nit Picked any and all things Jammeh is what is wrong with our Politics. This fact, not withstanding, the Uptic Narrative on BARROW’S Propensity to Slumbering at the drop of a dim or butut is troubling, because it could be a sign of an underlying Mental, Physiological Condition and Potentially a Cognitive Dissonance Issue that Should Be of Significant Concern and Worry to the Collective Gambian Citizenry and especially, the Political Leadership in the Gambia. Ethically, I am not in any position to make any diagnosis of someone I have only seen on Television and have never met. If I had the the opportunity for a Significant amount of time, I would be in a better position to Undertake such task with the administration of a DSM 5. The take away however, are the available life event record of BARROW’S Slumbering in many Public gatherings where he is Seated for some time. What Barrow does when he is not on Public Duty (if that is possible, given that the Presidency is a 24-7 Job), one may be forgiven to say it is “BARROW’S Affairs”. That is not the case here, but I am more interested and Concerned with the underlying cause of the “Barrow Public Slumbering” and how it might have or may impact his Representation of the Gambian People in all Matters Concerning their Welfare.

    • Sick =Peace#,
      One should expect you to be fussing your guts out about why Barrow would attend to such a speech like Trump’s. Your views are the most confused and nutty. Or, was it your secretary this time? Ha!

  3. =peace#
    There are subjects on which I agree with you but do you think he was tired? This is not the first time this inept “leader” was caught napping amidst meetings and conferences.
    It’s disappointing and disgraceful. Besides, what others might tell/inform him, how can he authoritatively explain to our people the deliberations of the conference? One thing is to hear from third parties and another to hear in situ. This man is unqualified, inept, incompetent and lousy for such an august responsibility. We are just DOOMED!
    President Jammeh would rest for only 2-3 hours a day and spend the rest of his time on official matters unhindered. Those were the virtues and qualities of a leader.
    Imagine a leading goal scorer of a football team, sleeping and/or idly sitting right in front of the opponent’s goalpost. Who loses?
    A simple anecdote to show how we Gambians stand to lose with this fat-bellied Humpty Dumpty!

    • Admittedly, Barrow needs to visit the gym and be more fitter, but physical fitness or its absence, is not a sign of good/bad leadership. Many great leaders, past and present, are not known for their physical fitness, whilst some of the worst were, perhaps, the fittest amongst their contemporaries.
      A “fat-bellied Humpty Dumpty” was chosen by The Gambian voters as President, over a fit, lean and monstrous killer Dracula, in human form. That’s the reality my friend, Babu Soli.
      It is your right to mount a come back bid, but expect a long wait at the back of the queue, as more and more of your Dracula leader’s heinous crimes and blatant thievery are exposed to the Gambian electorate and the world.

      • Bax, you are totally right!

      • Very good Bax. Good reasoning. Maybe Barrow need to do some gym. But In fact, I thought those Mugabes are going to applaud Barrow’s sleeping at a Trump speech. They never got anything right… Humpty Dumpties are not tall like Barrow. Hahaha!

  4. I think tiredness and long trips ,,He is very young but tiredness can with everyone !!! And lack of professional advice

  5. Dr Isatou Sarr

    Who cares, Trump does not have anything of substance to say anyhow.

  6. i totally agree, who gives a monkey to what Trump says, his well deserved and earned name TRUMP, lying often enough becomes a TRUMP). If Barrow falls asleep during trump’s speechdoes no make him an unfit president, we would rather have him as a president than that stupid, arrogant illiterate in the form of yaya jammeh or whatever he calls himself.
    Babu soli, can i remind you of the hadith the prophet SAW sid about literated and illiterates, he said “the sleepp of a literate man is better than the worship of an illiterate”, so you see how blind you are when you calling barrow an inept prezzy, you better getyourself use to this “inept prezzy Barrow” as he is here to stay no matter how hard you bark because he is infinte times better than that dog in the human form of yaya jammeh, which i doubt is his true name, for he doesn’t even know his own origin.

  7. Fatim
    I will tell you Yahya Jammeh’s origin. He is likely an illegitimate child of illegitimate parents, a filthy bastard.

  8. If Trump had nothing of substance to say why did this fat-bellied inept man in presidential clothing leave with a large entourage to squander our resources on their per diem emoluments? Only to sleep at the meeting from the Saudi mutton meat. What a disgrace with a bunch of USELESS leaders!

  9. Natty Dread
    MAY 22, 2017 AT 2:50 PM
    Fatim
    “I will tell you Yahya Jammeh’s origin. He is likely an illegitimate child of illegitimate parents, a filthy bastard”.
    With this statement, I know you are lost. We are waiting for you research results to give you the answer you deserve. Do that now or else, you’ll receive our very TERSE WORDINGS.
    In the meantime we refrain from throwing back any irresponsible wordings. But be quick in telling us what you promised! Till tomorrow, you have time.

  10. Indeed !!! President Trump is finding the Washington clique a formidable machine to break free from. Yet he picks up trade worth 360 Billion US Dollars from the King of Saudi. But I think he needs some dancing lessons.

    The Gambian government has made significant progress in the last few weeks. President Barrow deserves any opportunity for re-energising.

    To sleep perchance to dream his wonders to perform.

    I wish all on here a good sleep to enjoin with your rubbish thoughts and suspicions.

    Do you think Gambians cannot shake the habit of critique following Jammeh’s banishment? Is Gambian not better placed to engage the world with confidence ?

    Or are Gambians habitual groaners and moaners ?

  11. @Mike, couldn’t be better said. we do have some whinging, whinners and moaners who think they can come on forum platforms tovent their anger about everything that has been taken back to the rightful Gambians from the thugs who had yaya as their leader. we’ve gone past that stage, at the moment it’s business and nothing else. Yaya has been thrown to the dogs and there he shall remain until the next stage of his journey to the sewers where he belongs as a rat. prezzy Barrow is here to stay, not only to stay but to ensure poor Gambians who suffered in the hands of Jammeh and his thugs receive sweet justice.

  12. Yes dear Fatim; I think some Gambians are in a serious state of denial. You see, It is always someone else’s fault or failure, when in fact>> it all begins and ends with us.

    The events in Manchester currently decay the truth and uplifts human evil only to confuse a balanced mind.

    I think we are all guilty and we are all innocent. But whose guilt and whose innocence will prevail ?

  13. The dead have only us to make a case for peace.

NEWS LIKE YOU, ON THE GO

GET UPDATE FROM US DIRECT TO YOUR DEVICES