Trading with Our Future: IFC Trade Finance Commitments for Fossil Fuels

In FY2023, the IFC committed $16.1 billion to its trade finance programs, with 29% of that amount, or $4.7 billion, estimated to go towards fossil fuel projects. In comparison to FY2022, this is an increase of 17% in total trade finance and 28% in fossil fuel commitments. The IFC operates nine trade finance programs, including the Global Trade Finance Program (GTFP) and the Global Trade Supplier Finance (GTSF). As we already highlighted in our analysis from last year, transparency still remains an issue across all programs. The exact nature of the financed goods and businesses, especially those tied to fossil fuels, remains unclear.