ICIEC provides strategic NHSFO cover for Türkiye’s Çeşmeli–Kızkalesi motorway to boost regional connectivity and economic growth
ICIEC is supporting a major transport infrastructure project in the Republic of Türkiye through the provision of Non-Honoring of Sovereign Financial Obligation (NHSFO) insurance for a EUR 100 million financing facility extended by DZ Bank AG (Germany). The coverage, aligned with Shariah principles by insuring the principal amount only, protects against sovereign payment risks and enhances the overall bankability of the Çeşmeli–Kızkalesi Motorway Project.
The initiative forms part of a larger national effort to modernise Türkiye’s road network and strengthen east-west mobility under the Vision 2023 Transportation Master Plan. Located in Mersin Province, the project involves the design, construction, operation, and transfer of the Çeşmeli–Kızkalesi section of the Çeşmeli-Erdemli-Silifke-Taşucu Motorway. Implemented under a Build-Operate-Transfer (BOT) model, the concession spans 16 years—including a 3-year construction phase followed by 13 years of operation—under the oversight of the General Directorate of Highways (KGM) of the Ministry of Transport and Infrastructure.
The highway serves as a strategic extension of the Tarsus–Adana– Gaziantep corridor, improving traffic flow and reducing congestion along one of Türkiye’s most important coastal routes. By cutting travel times, enhancing safety, and facilitating smoother freight and passenge movement, the project is expected to stimulate regional trade, tourism, agriculture, and industrial activity. With Kolin Construction as the EPC contractor, the project integrates modern road engineering standards to accommodate current and future mobility demands. ICIEC’s involvement supports Türkiye’s broader infrastructure modernisation objectives by mitigating sovereign risk for international financiers, thereby helping mobilise cross-border capital for transformative national infrastructure. The developmental impact of the project is substantial, delivering improved connectivity, reduced emissions through smoother traffic flows, enhanced road safety, and significant job creation during both construction and operations.
The project contributes directly to several Sustainable Development Goals, including SDG 8 (Decent Work and Economic Growth), SDG 9 (Industry, Innovation and Infrastructure), SDG 11 (Sustainable Cities and Communities), and SDG 17 (Partnerships for the Goals). Through this engagement, ICIEC reinforces its commitment to supporting Member States in delivering high-impact infrastructure that strengthens economic resilience and accelerates sustainable development.
