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Consortium of Global Multilateral Development Banks Calls for Measures to Support Trade Continuity in Sub-Saharan Africa


The Pulse check ( report issued by a consortium of multilateral development banks and trade research institutions, recounts the views of sub-Saharan banks on multi-lateral development banks’ (MDBs) responses to uphold a well-functioning trade finance market.

The report, which brings together perspectives & insights from 70 trade finance executives from 20 countries, unanimously calls for an urgent switch in the focus of support programs towards private sector and smaller enterprises to avoid a ‘second wave insolvency crisis’ that threatens greater, and far more widespread, economic hardship on the continent than we have seen till now.

Demand for trade finance instruments in the first half of 2020 seems to have flattened compared to growth expectations, while banks, supplying those instruments, have typically “flown to safety” restricting their lending to existing clients. Overall, according to interviewees, the market has contracted from at least 10% on average from 2019 levels in volume and even greater in value because of furloughed projects and  investments. Full recovery is only anticipated by end of 2021 at the earliest.

Banks interviewed mentioned that their main constraints revolved around risk uncertainties / macroprudential limitations to extend credit outside of their comfort zone, especially during a persisting pandemic.

The report makes several priority recommendations for MDBs. These include a switch in focus to private sector support, increasing availability of risk-sharing instruments as well as a more granular funding offering. The report also illustrates the need to emphasise pooling of efforts and resources across MDBs and DFIs operating in Africa to respond more effectively to the unfolding situation.

Contributing organisations include the African Development Bank (AfDB), the Arab Bank for Economic Development in Africa (BADEA), the Banque Ouest-Africaine de Développement (BOAD), the East African Development Bank (EADB), the International Chamber of Commerce (ICC), the International Trade Center (ITC), the International Islamic Trade Finance Corporation (ITFC), and the Trade & Development Bank (TDB).

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

Media Contacts:
Arab Bank for Economic Development in Africa (BADEA)
Media Department

West African Development Bank (BOAD)
Téléphone (228) / /

East African Development Bank (EADB)
+256 417 112900/+256 312 30000

International Trade Centre (ITC)
Phone: +41 (0)22 730-0626

International Islamic Trade Finance Corporation (ITFC)
Tel: +966 12 646 8337
Fax: +966 12 637 1064

Twitter: @ITFCCORP
Facebook: @ITFCCORP
LinkedIn: International Islamic Trade Finance Corporation (ITFC) 

About AfDB:
The African Development Bank Group ( is a multilateral development finance institution. The AfDB was founded in 1964 and comprises three entities: The African Development Bank, the African Development Fund and the Nigeria Trust Fund.

About the Arab Bank for Economic Development in Africa (BADEA):
BADEA ( is an independent international financial institution owned by eighteen (18) Arab countries, members of the League of Arab States (LAS), who signed its Establishing Agreement on 18 February 1974. BADEA enjoys full international legal status and autonomy in administrative and financial matters. It is governed by the provisions of its Establishing Agreement and the principles of International Law.

BADEA aims at strengthening economic (financial and technical) cooperation between Arab and African countries and the embodiment of Arab-African solidarity based on equality and friendship.

Follow us on Social Media: @BADEAbank


About BOAD:
The West African Development Bank (BOAD) ( is the common development finance institution of the member countries of the West African Monetary Union (WAMU). It was established by an Agreement signed on 14 November 1973, and became operational in 1976.

About EADB:
The East African Development Bank (EADB) ( was established in 1967 under the treaty of the then East African Cooperation. The Bank was re-established under a new Charter in 1980. Under the Charter, the Bank’s role and mandate were reviewed and its operational scope expanded to include a broad range of financial services in the Member States with an overriding objective of strengthening socio-economic development and regional integration.

About the International Trade Centre (ITC):
The International Trade Centre (ITC) ( is the joint agency of the World Trade Organization and the United Nations. ITC assists micro, small and medium-sized enterprises in developing and transition economies to become more competitive in global markets to contribute to sustainable economic development within the frameworks of the Aid-for-Trade agenda and the United Nations’ Sustainable Development Goals.

For more information, visit and follow ITC on Twitter  (| Facebook (| LinkedIn (| Instagram (| Flickr (

About the International Chamber of Commerce:
The International Chamber of Commerce (ICC) ( is the institutional representative of more than 45 million companies in over 100 countries. ICC’s core mission is to make business work for everyone, every day, everywhere. Through a unique mix of advocacy, solutions and standard setting, we promote international trade, responsible business conduct and a global approach to regulation, in addition to providing market-leading dispute resolution services. Our members include many of the world’s leading companies, SMEs, business associations and local chambers of commerce.

About the International Islamic Trade Finance Corporation (ITFC):
The International Islamic Trade Finance Corporation (ITFC) ( is a member of the Islamic Development Bank (IsDB) Group. It was established with the primary objective of advancing trade among OIC member countries, which would ultimately contribute to the overarching goal of improving socioeconomic conditions of the people across the world. Commencing operations in January 2008, ITFC has provided more than US$51 billion of financing to OIC member countries, making it the leading provider of trade solutions for these member countries’ needs. With a mission to become a catalyst for trade development for OIC member countries and beyond, the Corporation helps entities in member countries gain better access to trade finance and provides them with the necessary trade-related capacity building tools, which would enable them to successfully compete in the global market.

About the Eastern and Southern African Trade and Development Bank (TDB):
Established in 1985, the Eastern and Southern African Trade and Development Bank (TDB) ( is a multilateral, treaty-based, investment-grade development finance institution, with 40 sovereign and institutional shareholders and assets of USD 6.7 bn.

TDB serves 22 economies in its region, with the mandate to finance and foster trade, regional economic integration and sustainable development, through trade finance, project & infrastructure finance and asset management.

The consistent delivery of high levels of development impact alongside attractive financial returns have enabled TDB to position itself as a trusted partner to intermediate global and regional capital into the region it serves. Today, more than half of the Bank’s portfolio directly and indirectly contributes to SDGs.

TDB has principal offices in Mauritius and Burundi, regional offices in Kenya, Zimbabwe and Ethiopia, and a country office in DR Congo.

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