Jeddah, 2024 Annual Development Effectiveness Report (Ader).
Ader acts as an essential reporting and transparency tool, which enables measuring ITFC, communal and frequent refine, which continuously refines its strategies and interventions for the results of familiar development. The 2024 report highlights the extended role of ITFC, which is the driver of permanent trade, economic flexibility and inclusive development in its member countries.
“Ader shows ITFC’s ability to provide innovative, impressive solutions that combine the complex requirements of our member counties,” ENG said. Adeb y. Al Ama, Chief Executive Officer of ITFC. “When we are celebrating Milstone, we are also associated with our interventions to move towards a more invested, flexible and durable.”
In 2024, the ITFC gave focus on flexibility and economic inclusion. Major highlights include:
ITFC allocated US $ 2.
66 billion, 38%of its total portfolio, at least Deviloped Member Counties (LDMCs) supports inclusive growth. Additionally, US $ 268 million director benefited from more than 380,000 Smalhlder farmers, allowing 840,000 metric tonnes to procure the purchase of local agricultural products.
The disbursement for the energy sector is an amount of US $ 4 billion, which brings reliable electricity to about 13.8 million houses. Food safety intervention provides more than 5.6 million metric tonnes of essential commodities at a price of US $ 1.45 billion, benefiting more than 30 million homes.
ITFC funded 312 Small and Medium Enterprises (SMEs) and corporates through partnership with 23 financial institutions, promoting financial inclusion and economic diversification.
Intra-OIC trade financing reached US $ 4.8 billion. Through strategic programs such as Arabia Africa Trade Bridge (AATB) and The Aid for Trade Initiative for Arabs (AFTIAS).
Technical assistance and training initiative reached over 3,100 persons, with an increase of 32% from the previous year, with about 40% of women participants.