Geneva, (IINA) : The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IDB) Group, announced that the IDB had financed more than $60 billion of trade transactions to support small and medium enterprises (SMEs), Saudi Gazette reported Tuesday.

The announcement was made by the CEO of ITFC, Engineer Hani Sonbol, who represented the corporation at the World Trade Organization’s Public Forum last month in Geneva. He called for more efforts to support development in member states “specifically during this critical time and all the economic challenges we are facing today.”

“As of today, the IDB Group has financed more than $60 billion of trade transactions all over the world. Since inception in 2008, ITFC has on its own extended trade financing worth of more than $33 billion,” he added.