Into Moroni, Comoros, the International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) Group, is expanding its footprint in the Union of Comoros through a suite of integrated trade finance solutions aimed at stabilizing the island nation’s energy supply, improving food resilience, and strengthening local businesses. The partnership, active since 2008, has become a lifeline for a country that relies heavily on imports to sustain both its economy and its population of roughly 850,000 people.
With no domestic oil production and limited agricultural output, Comoros faces chronic vulnerability to global market fluctuations. ITFC has approved more than US$799 million in trade finance for Comoros to date, most of it directed toward securing energy supplies. Over US$655 million has been allocated to ensure the country’s annual imports of refined petroleum products, some 100,000 m³, arrive reliably even when global prices spike. As a critical buffer for people and businesses in Comoros, already burdened by high living costs.
The Corporation’s approach extends beyond financing. In 2023, ITFC partnered with the state-owned Société Comorienne des Hydrocarbures (SCH) through an Integrated Trade Solution that paired funding with technical capacity building. SCH staff received hands-on training at Tunisia’s STIR Refinery, learning new skills in trade negotiation, Islamic finance, and oil storage management. These upgrades support about 480 direct jobs, nearly 200 of them held by women, highlighting the wider family and social impact of the partnership. By sourcing more than 70% of its petroleum imports from fellow OIC countries, Comoros is also deepening regional trade ties, a politically significant move for a small island nation seeking greater economic integration.
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