As part of the post-Covid recovery of the Senegalese agricultural sector, the International Islamic Trade Finance Corporation (ITFC) has granted financing of 40 million euros to the Senegalese National Peanut Company (Sonacos).

“The €40 million funding from ITFC provides a much needed resource to our farmers and it is a fundamental step to ensure the success of the 2021/2022 groundnut marketing campaign in Senegal,” said the Managing Director. of Sonacos, Modou Diagne Fada. The facility, dedicated to financing part of the 2021-2022 peanut campaign, should make it possible to cover Sonacos' financing needs to ensure the acquisition of 150,000 tonnes of peanuts from the current harvest from farmers. It brings the total funding approved by ITFC for Senegal to more than $1.1 billion across 19 operations since ITFC's inception in 2008.