International Trade as an Engine for Sustainable Development: The ITFC Experience in Supporting SMEs
This article seeks to shed some light on financing and supporting international trade with a particular focus on SMEs. The paper will look into the situation of Organisation of Islamic Cooperation (OIC) countries vis-à-vis international trade. Then, the role of multilateral development banks (MDBs) in supporting international trade will be expounded, while the following section will focus on the experience of ITFC as the sole MDB fully dedicated to trade. Afterwards, the article will cover SMEs’ state in today's world, and make the case of SME development through trade. Finally, a proposal for an innovative trade fund for SMEs will be put forward. The article will conclude with recommendations and proposals to reinforce and develop SMEs through trade for sustainable global social and economic prosperity.