ICIEC and INFRA Join Forces to Enhance Infrastructure Development in Saudi Arabia

ICIEC Signs MoU with National Infrastructure Fund of Saudi Arabia at IsDB Group Annual Meeting 2024

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) has announced the signing of a Memorandum of Understanding (MoU) with the National Infrastructure Fund of Saudi Arabia (INFRA) during the IsDB Group Annual Meeting 2024 in Riyadh, Saudi Arabia. This collaboration aims to explore opportunities of mutual interest within the Kingdom in line with its developmental objectives.

The MoU, signed by ICIEC’s CEO, Mr. Oussama Kaissi, and INFRA’s CEO, Eng. Esmail Alsallom, establishes a framework for cooperation between the two entities. Key initiatives include institutional cooperation, knowledge exchange, and coordination in field-related activities to accelerate strategic infrastructure projects in Saudi Arabia, aligning with the goals of Saudi Vision 2030.

Mr. Oussama Kaissi expressed his pleasure about the agreement, emphasizing the shared commitment to promoting sustainable development through enhanced understanding and cooperation in insurance solutions and infrastructure development in the Kingdom.

ICIEC, as the only Islamic multilateral insurer in the world, has maintained a strong financial rating from Moody’s and S&P, highlighting its resilience in providing risk mitigation tools and financial solutions to companies in its 49 Member States. With a focus on sectors like energy, manufacturing, infrastructure, healthcare, and agriculture, ICIEC has insured over US$108 billion in trade and investment.

For more information about ICIEC and its activities, visit http://ICIEC.IsDB.org.