International Islamic Trade Finance Corporation releases 2019 Annual Development Effectiveness Report
Jeddah – 14 May 2020: The International Islamic Trade Finance Corporation (ITFC), member of the Islamic Development Bank (IsDB) Group, today released its 2019 Annual Development Effectiveness Report (ADER). In 2019, ITFC approved US$5.8 billion trade financing, a 12% increase from the previous year, to advance trade in member countries. Of this, US$5 billion was disbursed towards improving the livelihoods of millions of people in line with the institution’s overarching goal to realise the targets set out in the UN Sustainable Development Goals (SDGs). Disbursement in Asian and CIS member countries of the Organization of Islamic Cooperation (OIC) stood at US$2.6 billion, while in African OIC countries, total disbursements amounted to US$2.4 billion.
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