ITFC, ITC launch program for development of Madinah’s dates sector

The signing took place between Hani Salem Sonbol, CEO ITFC, and Arancha Gonzalez, executive director of ITC, in Geneva.

The International Islamic Trade Finance Corporation (ITFC), member of the Islamic Development Bank (IDB) Group, and the International Trade Center (ITC) have signed an amendment to their partnership agreement for the implementation of the Program for the Development of Dates Sector in Madinah (PDDM). The signing took place between Hani Salem Sonbol, CEO ITFC, and Arancha Gonzalez, executive director of ITC, on the sidelines of the sixth Global Review of Aid for Trade at the WTO headquarters, in Geneva.
The objective of the project is to address the constraints at farmer, enterprise and institutional levels, ensure full utilization of the dates sector potential in Madinah and respond to increasing internal and external demand. To achieve this, ITC and ITFC will provide technical assistance to strengthen the capacities of both farmers and enterprises. The project will also help improve harvesting techniques, post-harvest services, warehousing and distribution. Training and coaching of producers, marketers and manufacturers, and preparing marketing and sales strategies will help achieve good prices for dates.
Sonbol said: “This signing reflects our successful partnership with ITC, and with the great support and importance given by the IDB Group, together we will work toward improving competitiveness and increasing exports of the dates of Madinah. This will generate better returns for farmers and create more jobs. The Kingdom produces about 1.2 million tons of dates annually, and has great potential to increase its exports and explore new export markets.”
Gonzalez said: “This project will support sustainable economic diversification and help job creation by boosting the capacities and business know-how of dates enterprises in the Madinah region. With the ITFC we will not only improve market opportunities for Saudi enterprises in the dates sector, but also work toward ensuring more stable incomes for people working in the industry.”