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Monday, April 15, 2024

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International Islamic Trade Finance Corporation’s 2021 approvals and disbursements reach US$6.5 billion and US$5.1 billion respectively

GLOBAL: In its Annual Development Effectiveness Report, the International Islamic Trade Finance Corporation (ITFC) confirmed that its approvals and disbursements in 2021 hit US$6.5 billion and US$5.1 billion, respectively. Disbursements to least developed member countries amounted to US$1.5 billion, benefitting nine countries and up 25% compared with 2020 while intra-OIC trade financed amounted to US$4 billion, with cumulative approvals to support trade between OIC member countries reaching US$44 billion since the institution’s inception. 

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