Development
Effectiveness
Report

2022

Advancing Trade, Improving Lives

Foreword

Dr. Muhammad Al Jasser

IsDB Group Chairman

Over the past 15 years, ITFC has had a significant impact on its member countries. Through its various initiatives and programs, the Corporation has contributed to economic growth, poverty reduction, and social development while promoting regional cooperation and sustainable development. Since its creation, the Corporation has approved US$ 68.5 billion of trade finance, out of which US$ 25.3 billion was allocated to the Least Developed Countries.

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In an increasingly complex world with interrelated crises, the work of ITFC is more important than ever. Trade is the solution to the global common challenges and ITFC has a unique role to play as the only development finance institution with the exclusive mandate of fostering Intra-OIC trade. The year just ended was another year of record performance for ITFC. Approvals and disbursements reached new heights at US$ 6.8 billion and US$ 7.4 billion, respectively.

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ITFC’s development effectiveness approach has a focus on learning, transparency, and accountability. Our reporting on results has significantly progressed over the years to align with the best practices. The 2022 ADER went through an independent assurance process, positioning ITFC among leading peers that submit sustainability data to an external verification.

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CEO MESSAGE

Eng. Hani Salem Sonbol

Chief Executive Officer, ITFC

What is the

ADER

Annual Development Effectiveness Report

The Development Effectiveness Report is ITFC’s primary tool for monitoring and reporting on its performance in achieving development results. The ADER uses the indicators in the ITFC’s Development Impact Framework (DIF) as a yardstick for reporting and to showcase its contribution to the Sustainable Development Goals.

With 54 indicators, the ITFC DIF enables management and stakeholders to evaluate performance, from the perspective of development impact, by assessing the extent to which its activities are aligned with the priorities and the theory of change pertaining to the Corporation.


ITFC engaged BlueMark, a Tideline company, to independently verify the quality of ITFC’s external impact reporting based on industry best practices, including the Sustainable Development Goals and the Operating Principles for Impact Management, among others. BlueMark’s assessment findings cover both areas of strength and areas for improvement, as reflected in the Verifier Statement for the Year 2022 reporting period.

Click to read the Independent Auditor’s Verifier Statement

A limited assurance was provided on a sample of indicators that were deemed to be representative of the DIF indicators. They included indicators at operational, output and outcome levels, based on different methodologies and data collection approaches.

Click to read the Independent Auditor’s Limited Assurance Statement

About Bluemark.
BlueMark is a leading independent provider of impact verification services in the impact investing market. BlueMark is a subsidiary of Tideline Advisors, LLC, a specialized consulting firm that works with asset managers and allocators to design and implement best-in-class impact management and measurement systems.

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Mandate

Mandate

Advancing Trade, Improving
Lives

VISION

VISION

To become the leading provider of trade solutions for OIC member countries’ needs.

MISSION

MISSION

To act as a catalyst for trade development among OIC member countries and beyond.

ITFC’s contribution to the 

2022

1
Goal 01
No poverty

US$ 245 MILLION
worth of income redistributed to smallholder farmers.

US$ 7.4 BILLION
of trade finance disbursed to support international trade.

US$ 2.2 BILLION
disbursed towards LDCs.

2
Goal 02
Zero hunger

More than US$ 2.2 billion disbursed to the food and agriculture sector
Over 22.4 million households benefitting from food financing
Around 600,000 farmers benefitting from ITFC financing and capacity building in agriculture

3
Goal 03
Good health
and well-being

More than 33.3 million COVID 19 vaccines procured for Africa

4
Goal 04
Quality education

1,218 people trained

7
Goal 07
Affordable
and Clean Energy

US$ 4.2 billion extended to the supply of energy inputs
13 million households (est.) provided with access to electricity

8
Goal 08
Decent Work
and Economic Growth

110,000 jobs supported within client institutions

9
Goal 09
Industry, Innovation
and Infrastructure

US$ 336 million of financing extended through 18 partner banks
180 corporates and MSMEs provided with access to financing

17
Goal 17
Partnerships
for the Goals

US$ 528.8 million of agriculture export value pre-financed by ITFC
US$ 4.5 billion of trade finance mobilised from Syndicate Partners
US$ 4.9 billion of Intra-OIC trade financing

Goal 01

No
poverty

Goal 04

Quality
education

Goal 08

Decent work and
economic growth

Goal 02

Zero
hunger

Goal 07

Affordable and
clean energy

Goal 09

Industry, Innovation
and Infrastructure

x
Goal 17

Patnerships for
the Goals