Afriland First Bank has signed a declaration of intent with the Islamic Corporation for the Development of the Private Sector (ICD), a member of the Islamic Development Bank Group, to structure a €50 million syndicated financing facility, equivalent to about CFAF32.8 billion, for private sector projects in Cameroon. Afriland First Bank said the facility would increase access to Islamic finance and provide additional resources for businesses, particularly small and medium-sized enterprises (SMEs). The initiative also aligns with Cameroon’s National Development Strategy (NDS30), which seeks to accelerate industrialization, economic transformation and private sector development. Four previous ICD financing lines worth a combined €63 million have already been mobilized through the partnership. Headquartered in Jeddah, Saudi Arabia, the ICD is a multilateral development finance institution mandated to promote private sector investment through Islamic finance across its 56 member states.