Impact Stories

Powering Progress, Empowering Agriculture

ICIEC’s Support for Bangladesh’s Energy Security and Food Resilience

ICIEC supported the development of a 104 MW power plant in Bangladesh by providing USD 38 million in insurance coverage for the import of heavy fuel oil (HFO) generators. The project responds to Bangladesh’s growing electricity needs and frequent power shortages, which have impacted economic activity and food system resilience. By facilitating access to critical infrastructure, ICIEC’s support contributes to improved energy access, enhanced industrial capacity, and broader national efforts toward sustainable development.

Development impact and key outcomes

Job creation

~ 300 jobs

Power capacity

~50-100 MW capacity

Emissions avoided

~200,000 tCO2 avoided

SDG's Supported

Read more in the ADER 2024

Improving Lives through ESG Infrastructure

ICIEC’s Impact on Uganda’s Essential Services and Climate Resilience

ICIEC provided EUR 232 million in insurance support to Uganda’s MoF for a portfolio of infrastructure projects aligned with national development and post-COVID recovery goals. This included targeted investments across water, agriculture, healthcare, education, and climate resilience. The financing was facilitated by Standard Chartered Bank and supported under ICIEC’s FIIP policy to cover the NHSFO risk of Uganda. By covering 95% of the risk, ICIEC enabled the Ugandan government to accelerate the delivery of socially impactful infrastructure, improve service access for vulnerable communities, and strengthen the foundations for long-term, inclusive development.

Development impact and key outcomes

Job creation

~ 5,000-7,500 jobs

People benefitted

~ 2-3 million

Emissions avoided

~100,000 tCO2 avoided/year

SDG's Supported

Read more in the ADER 2024

Clean Water for Abidjan

ICIEC’s Impact in Côte d’Ivoire’s Water Supply Sector

ICIEC provided EUR 107 million in risk mitigation support to Société Générale Paris for a loan facility extended to the Government of Côte d’Ivoire. The loan financed the construction of a large-scale potable water treatment plant on the outskirts of Abidjan, aiming to improve access to clean drinking water for nearly one million people. This facility, one of the largest in West Africa, was developed under the national “Water for All” program to address critical shortages in underserved urban areas. The project, executed by Pierre Fakhoury Operator Africa in partnership with Veolia, also supported job creation, improved public health outcomes, and introduced more sustainable aquifer management practices to preserve groundwater resources.

Development impact and key outcomes

Job creation

~ 1,000 jobs

People benefitted

~500k - 1 million

Emissions avoided

~50,000 tCO2 avoided/year

SDG's Supported

Read more in the ADER 2024

Paving Pathways for Progress

ICIEC’s Impact in Côte d’Ivoire’s Transport Infrastructure Sector

ICIEC provided EUR 40.3 million in non-payment insurance to Société Générale Paris under the NHSFO product, supporting the Government of Côte d’Ivoire’s EUR 114 million financing for the rehabilitation of the Eastern Road and construction of five bridges. The insured loan—aligned with the National Development Road Plan—will improve critical infrastructure, stimulate trade, and enhance regional connectivity, including access to Burkina Faso.

Development impact and key outcomes

Job creation

~ 1,000 jobs

Road and bridges

~250 km road/bridges

Travel savings

~ 1 million people benefited

SDG's Supported

Read more in the ADER 2024

Steel, Scale, and Sustainability

ICIEC’s Impact on Industrial Development in Algeria

ICIEC provided USD 450 million in equity investment insurance to Tosyali Holding (Türkiye) to support the third phase expansion of its steel manufacturing plant in Oran, Algeria. The facility, Tosyali Algerie, is now among the largest integrated steel plants in Africa and represents Algeria’s largest non-petrochemical FDI. ICIEC’s cover protects against non-commercial risks. The project supported industrial growth, import substitution, and economic diversification—while promoting environmental sustainability by recycling scrap metal and reducing reliance on imported steel.

Development impact and key outcomes

Job creation

~ 3,500 jobs

Steel output

~ 2-3 million tonnes of steel/ year

Emissions avoided

~ 1 million tCO2 avoided/ year

SDG's Supported

Read more in the ADER 2024

Protecting Lives and Ecosystems: Water Security and Wastewater Solutions

ICIEC’s impact in Türkiye’s drinkable and wastewater infrastructure

ICIEC provided EUR 166 million insurance cover for two critical water and wastewater projects in Istanbul: The Cumhuriyet Drinking Water Treatment Plant (2nd stage) and the Paşaköy Advanced Biological Wastewater Treatment Plant (3rd stage). These projects aim to increase Istanbul’s water security and wastewater capacity amid rising population and urbanization. The expansion is estimated to benefit over a million residents, improve resilience to drought and climate risks, and enhance public health and environmental protection. The wastewater facility also promotes resource circularity by recycling sludge for cement fuel and repurposes treated water for industrial use.

Development impact and key outcomes

Job creation

~ 2,000-3,000 jobs

People benefitted

~ 1-2 million

Emissions avoided

~ 150,000-225,000 tCO2 avoided/ year

SDGs supported

Read more in the ADER 2024

Safeguarding Stability: Strategic Liquidity and Economic Resilience

ICIEC’s support for fiscal stability and essential services in Nigeria

ICIEC provided risk mitigation support to Gunvor International B.V. through a BMP insuring USD 100 million in a USD 3.3 billion syndicated oil-backed prepayment facility. The transaction, structured around future crude oil deliveries by Nigeria’s National Petroleum Company (NNPC), enables immediate foreign exchange inflow while securing future oil revenues. By supporting the prepayment of 90,000 barrels per day under a Forward Sale Agreement, ICIEC’s cover strengthens liquidity, stabilizes the local currency (Naira), and reinforces Nigeria’s ability to meet budgetary and infrastructure financing needs. This facility shows how structured commodity finance can be a powerful tool for macroeconomic stabilization.

Development impact and key outcomes

Job creation

~ 2,000

Households benefitted

~ 500k - 1 million supported

Trade flows enabled

~ USD 200 million

SDGs supported

Read more in the ADER 2024

Enabling Imports Through Trade Finance Solutions

ICIEC’s Role in Facilitating Commodity Flows Across Egypt and Tunisia

ICIEC played a catalytic role in enabling over USD 2 billion in syndicated trade finance across Egypt and Tunisia, supporting the import of strategic commodities vital to national stability and development. Through its risk mitigation solutions, ICIEC provided over USD 404 million in cumulative insurance coverage across multiple transactions led by ITFC with participation of other finance partners, facilitating the flow of, petroleum products, liquefied natural gas (LNG), fertilizers, and electricity inputs.

In Egypt, ICIEC’s coverage supported the operations of the General Authority for Supply of Commodities (GASC) and the Egyptian General Petroleum Corporation (EGPC), aligning with national energy security programs. In Tunisia, ICIEC enabled imports by the Tunisian Petroleum Refinery (STIR) and the Tunisian Company of Electricity and Gas (STEG), contributing to uninterrupted energy supply.

Development impact and key outcomes

Job creation

19,588

Export revenues generated

USD 608 million in export sales

Energy generated

16,319 gigawatt-hour (GWh)

Strategic commodities delivered

1.9 million tonnes of refined sugar

2 million tonnes of wheat

0.4 million tonnes of soybean/ sunflower oil

1.9 million tonnes of oil/gas

203,860 tonnes of oil/gas (export delivery)

430,405 tonnes of chemicals

Households reached

23 million households provided with food

3.89 million households provided with electricity (gas)

4.7 million households provided with electricity (power)

SDGs supported

Read more in the ADER 2024

Unlocking Food Security Through Inclusive Trade Finance

ICIEC’s impact on agricultural trade across Sub-Saharan Africa

ICIEC provided non-payment risk coverage to SMBC under BMP for two transactions with ETC Group, a major agribusiness player active across the Indian Ocean Rim. These facilities are designed to finance the procurement and trade of agricultural commodities and fertilizers. The transactions advance food security across more than 10 ICIEC Member States, by enabling ETC to directly source from smallholder farmers through “farmgate procurement” models. This approach increases the income captured by farmers and strengthens inclusive supply chains. The facilities are also aligned with ESG principles and include predefined key performance indicators (KPIs) to reinforce sustainability-linked performance.

Development impact and key outcomes

Job creation

~ 10,000 - 15,000

People benefitted

~ 3-5 million

Food security support

~ 100,000 tonnes of grain equivalent

SDGs supported

Read more in the ADER 2024

ImpactStories

Strategic Outlook for 2025