ITFC, AICE launch financing and development program for Indonesian coffee exports

Arab News
The International Islamic Trade Finance Corporation and the Indonesian Coffee Exporters and Industries Association embark on a financing and trade development program to model a transformation change in the whole Indonesian coffee supply chain.

The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IDB) Group, in collaboration with the Indonesian Coffee Exporters and Industries Association (AICE), embarked on a financing and trade development program to model a transformation change in the whole Indonesian coffee supply chain.
This program was launched on the sidelines of the World Islamic Economic Forum (WIFE), which was held in Jakarta from Aug. 2-4.
The launching event was held on Aug. 4, and attended by Hani Salem Sonbol, CEO, ITFC; Irfan Anwar, chairman, AICE, Professor Savas Alpay, group chief economist, IDB Group; Syed Habib, GM, trade cooperation and promotion program (TCPP), ITFC; Nazeem Noordali, GM, corporate and structured finance (CSF), ITFC; and invitees from interested parties.
Commenting on this program, Sonbol said: “This program will not only promote ITFC’s activities and initiatives, but also highlight the direct developmental impact that such initiatives have on the entire coffee chain in Indonesia, starting from the small farm holders right upstream through to supply chain actors, including district traders, exporters, Exporters Association, and processors.”
He added: “This program has been designed and implemented to strengthen trade development and promotion, and capacity building activities for the coffee sector. The financing will also allow coffee cooperatives and SMEs in Indonesia to increase their exports to global markets.”
Building on this year’s WIEF theme for decentralization of growth, the increasing role of SMEs, the role of ICT development, shifting comparative advantages from multinationals to SMEs, ITFC’s participation and program received excellent praise and acceptance among the delegates and industry representatives, including the Indonesian Coffee Exporters Association.
One of the most important highlights of this program is the relative ease with which it can be replicated in other member countries and industries across the globe, including the coffee industry in Africa.