The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) provided insurance support last year for three railway projects contributing to regional integration in Türkiye and Georgia, Khalid Khalafalla, Chief Executive Officer of ICIEC, said during a plenary discussion at the Private Sector Forum 2026 held within the framework of the annual meetings of the Islamic Development Bank Group (IsDB), APA reports.
According to him, transport infrastructure is one of the key areas of ICIEC's activities:
“We play an important role in supporting infrastructure projects, particularly in the transport sector. Since these projects are usually large-scale, it is not possible to implement them alone. Therefore, we cooperate with the World Bank Group’s MIGA agency, export credit agencies from Arab countries and the African region, as well as European partners.”
Khalafalla noted that close cooperation is carried out with the export credit agencies of Germany, France and Spain in railway projects:
“Last year, we provided insurance coverage for three railway projects in Türkiye. One of these projects was located near the border with Azerbaijan. We also supported a port project in Georgia. These initiatives serve to strengthen regional integration.”
The head of ICIEC stated that the insurance mechanisms offered by the organization not only reduce risks for investors but also facilitate access to financial resources:
“In some cases, risks are real, while in others they stem from perceptions formed about a country. The insurance and credit rating support we provide enable countries to attract more investment and mobilize additional financial resources.”
According to him, the energy sector is also among the priority areas:
“Energy projects serve not only to meet domestic demand but also to expand export opportunities to neighboring countries. Our support for transport and energy infrastructure makes a significant contribution to the development of regional cooperation and trade.”
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