Sustainable Development Goals
ITFC Contribution to the
Sustainable Development Goals
The 2030 Agenda provides the answers and outlines the pathway to build back better from the Pandemic. The Agenda underlines the importance of transforming societies through green, sustainable, resilient and inclusive paths. The positioning of trade across the 2030 Agenda shows that trade can, when well-regulated, contribute to growth and sustainable development. International trade, as a catalyst for growth and employment creation is likely to play a critical role in achieving the SDGs. However, trade is not considered to be an end in itself under the SDG framework but rather a means of supporting implementation. Indeed, the SDGs include several targets linked to a variety of trade-related policy reforms (‘trade-related targets’) as means of implementation (17.10, 17.11, and 17.12).
Advancing Trade and Improving Lives are the founding values of ITFC and the mission that drives ITFC work. These values are directly related to SDG 1 (No Poverty) and SDG 8 (Economic Growth). At the sector level, ITFC mainly invest in SDG 7 (Affordable & Clean Energy), SDG 2 (Zero Hunger), SDG 3 (Good health and well-being), SDG 4 (Quality Education) and SDG 9 (Industrialization) as a result of continued focus on Energy, Agriculture, Health and SMEs. To reach its objectives, Partnerships (SDG 17) and reduction of inequalities (SDG 10) are at the core of ITFC’s work. as the Corporation aims at allocating resources on regions where the need is greatest, in particular least developed countries (SDG 10.b).
1
Goal 01
No poverty
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US$240 MILLION
worth of income redistributed to smallholder farmers.
US$5.1 BILLION
of trade finance disbursed to support international trade.
worth of income redistributed to smallholder farmers.
US$5.1 BILLION
of trade finance disbursed to support international trade.
Goal 01
No poverty
There is abundant evidence from literature showing how the rise of trade has led to a decrease in global poverty (World Development Report, 2020). Trade, as a driver of sustainable economic growth, contribute to the achievement of Goal 1, which focuses on ending poverty in all its forms.
2
Goal 02
Zero hunger
Over US$1 BILLION disbursed for the food and agriculture sector
Over 28 MILLION households benefitting from food financing
Around 600,000 farmers benefitting from ITFC financing and capacity building in agriculture
Goal 02
Zero hunger
SDG 2 calls for ending hunger and all forms of malnutrition by 2030, while doubling the agricultural productivity and income of small-scale food producers. ITFC support farmer’s incomes by providing pre-export financing in the agriculture sector and supports member countries’ food security by financing the import of essential commodities.
3
Goal 03
Good health
and well-being
and well-being
More than 25,000 patients
500 health workers
13 medical facilities benefitting from ITFC financing
Goal 03
Good health
and well-being
SDG 3 aims, among other targets, to strengthen the capacity of all countries, in particular developing countries, for early warning, risk reduction and management of national and global health risks. ITFC supports member countries to acquire critical medical equipment and medicines (PPE, vaccines) to enhance their pandemic readiness.
4
Goal 04
Quality education
289 people trained
Goal 04
Quality education
Through its trade development program and capacity building activities ITFC provides youth and adults with relevant skills, including technical and vocational skills, for employment, decent jobs and entrepreneurship.
7
Goal 07
Affordable and clean energy
US$3.9 BILLION
extended to the supply of energy inputs
Over 11 MILLION
households provided with access to electricity
Goal 07
Affordable and clean energy
Goal 7 calls for ensuring universal access to affordable, energy services and increase substantially the share of renewable energy in the global energy mix. ITFC ensure the sustainable supply of energy inputs for member countries and support their efforts to enhance their energy mix.
8
Goal 08
Decent work and
economic growth
economic growth
Over 116,000
jobs supported within client institutions
US$4 BILLION
of Intra-OIC trade financing
Goal 08
Decent work and
economic growth
Trade fuels economic growth and most member countries aim for an export-led growth. ITFC strategic focus is to contribute to the economic diversification of its member countries (Target 8.2) and increase Aid for Trade support for developing countries, in particular least developed countries (Target 8.A).
9
Goal 09
Industry, Innovation and
Infrastructure
Infrastructure
US$182 MILLION
of financing extended to 30 Private Sector clients and partner banks
Over 320 MSMEs
provided with access to financing
Goal 09
Industry, Innovation and
Infrastructure
ITFC supports the private sector, in particular SMEs, through lines of financing, therefore increasing the access of small-scale industrial and other enterprises, in particular in developing countries, to financial services, including affordable credit, and their integration into value chains and markets (Target 9.3)
10
Goal 10
Reduced inequalities
Trade finance worth
US$1.5 BILLION disbursed towards LDMCs
Grants worth
US$3.4 MILLION disbursed targeting the most vulnerable
Goal 10
Reduced inequalities
SDG 10 encourage official development assistance and financial flows, including foreign direct investment, to States where the need is greatest, in particular least developed countries. This is in line with ITFC commitment to allocate resources on regions where the need is greatest, in particular least developed countries (SDG 10.b).
17
Goal 17
Patnerships for the Goals
US$426 MILLION of agriculture export value pre-financed by ITFC
US$4.5 BILLION of trade finance mobilized from Syndicate Partners
US$2.5 MILLION of co-financing for trade development projects
Goal 17
Patnerships for the Goals
ITFC’s vision is to be recognized as a catalyst, network builder and facilitator of trade. The Corporation contributes to the fill the SDG financing gap through mobilizing financial resources for developing countries from multiple sources (Target 17.3). For every US$ 5 approved by ITFC, US$ 4 are mobilized from external resources (SDG 17.3).
