Trade Development Fund continues to support SMEs’ access to global markets

The Trade Development Fund (TDFD) was launched in 2020 by The International Islamic Trade Finance Corporation (ITFC), a member of IsDB Group, with a target initial capital of US $50 million to support trade development projects in OIC member states and Islamic communities in non-member countries.

The Trade Development Fund (TDFD) is a waqf fund, whose primary objective is to build and provide financial resources from charitable sources for the design and implementation of initiatives, activities and programmes related to the promotion and development of trade for Member States and Muslim communities in non-member States. The Fund invests its endowment resources in miscellaneous assets that distribute its net revenues equitably (50% -50%). 50% of the returns are added to the capital and the remainder is disbursed for the purpose of designing and developing business projects dedicated to promote trade. This operational model would give the Fund a strong momentum for growth, which will lead to a sustainable platform for financing charitable trade development activities.

The Fund, in collaboration with Abdullah Al Subaie Charity Foundation will host the second course of the International Marketing and Export Strategy Training Program which will be held in partnership with the Foreign Trade Training Center (FTTC). The program aims to enable trainees to identify key concepts and methodologies in marketing research, understand the main criteria for choosing international markets, identify key components of marketing mix, identify different factors affecting export prices, understand the evolution of international trade and the impact of countries’ international agreements on competition.

The Abdullah Al Subaie Charity Foundation is an integrated donor foundation making impact and contributing to the Saudi Vision of 2030, through quality services, programmes, and beneficiaries in an attractive and stimulating institutional environment.

TDFD aims to provide more charitable sources to provide sustained support to trade development initiatives and to enable SMEs to access global markets. In this spirit, the first practical training programme to support selected small and medium enterprises (SMEs) in Riyadh, Saudi Arabia was launched at the end of 2021 in cooperation with Alnahda Society.

Alnahda Societyis a non-profit organization founded in 1963 by Her Royal Highness Princess Sarah Al-Faisal bin Abdulaziz Al Saud and works to empower Saudi women economically and socially by implementing several targeted development projects and programmes. In June 2019, Alnahda was formally accredited by the Economic and Social Council of the United Nations (ECOSOC) as a non-governmental organization, currently chaired by Her Royal Highness Princess Moudi Bint Khaled Bin Abdulaziz Al Saud.

This training program includes several practical courses on international marketing and export strategies based on the participation of various institutions from Saudi Arabia. It also seeks to highlight the importance of the role of the Trade Development Fund in Saudi Arabia as well as to enhance the trade capacity of SMEs in cooperation with charities.