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ITFA represents the rights and interests of banks, financial institutions and service providers involved in trade risk and asset origination and distribution.Our Mission
| In its role as the global trade finance industry body, the International Trade and Forfaiting Association (ITFA) is committed to addressing the trade finance gap, which acts as a significant barrier to socioeconomic growth across the developing world. Recognizing the impact that resolving this issue could have, ITFA and the IFC joined forces to hold the Trade Finance Conference of Parties meeting (TF COP) at the IFC’s headquarters in Washington, DC, which took place on October 28th 2024. This event, the first of its kind, had the ambitious objective of definitively addressing the root causes of the trade finance gap and developing tailored, practical solutions that can have a real and direct impact on the ground. The trade finance gap primarily affects SME traders in emerging markets that do not have access to international funding and suffer from the wave of derisking by banks from emerging markets. This not only constrains the growth of trade, but it is one of the biggest obstacles to achieving the UN Sustainable Development Goals (SDGs), given trade’s direct impact on driving economic growth, creating employment and improving infrastructure. To address this problem, TF COP brought together some of the most influential minds in the trade finance ecosystem, uniting them in a shared commitment to resolve the trade finance gap once and for all. The invitation-only event was attended by over 80 participants, representing the entire trade finance value chain, including the development finance institutions (DFIs), multilaterals and industry bodies, through to the commercial banks, insurers, fintechs and investment funds. Click here for a full report on our discussions that day, the initial findings and the objectives of the planned TF COP Task Force to drive forward this ambitious agenda. |
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