ITFC to fund Bangladesh for medical equipment

Bangladesh will procure medical equipment including Continuous Positive Airway Pressure (CPAP) and Bl-level Positive Airway Pressure (BIPAP) for public hospitals for better Covid-19 treatment.

An agreement was signed between the Economic Relations Division (ERD) of the Finance Ministry and Islamic International Trade Finance Corporation (ITFC) in this regard, at Tashkent in Uzbekistan on Friday, said a press release issued by the ERD.

ERD Secretary Fatima Yasmin and Chief Executive Officer of ITFC Hani Salem Sonbol signed the agreement on behalf of Bangladesh and IFTC respectively.

Secretary to the Prime Ministers’ Office (PMO) Md. Tofazzel Hossain Miah was present among others at the ceremony.

ITFC has approved a $50,000 grant for procuring medical equipment for public hospitals. The grant amount will be used for the procurement of CPAP and BIPAP, the release added.

Islamic International Trade Finance Corporation (ITFC) is a long-standing development partner of Bangladesh. They are financing the different sectors of Bangladesh.

Since 2008, ITFC has provided more than $51 billion to OIC member countries, making it the leading provider of trade solutions for the member countries in need.

With a mission to become a catalyst for trade development for OIC member countries and beyond, the corporation helps entities gain better access to trade finance and provides them with the necessary trade-related capacity-building tools to enable them to successfully compete in the global market.