Development Impact 2025

Read more in the ADER 2025

Member Countries Development

Member Country Development sits at the centre of ICIEC’s mandate. Through its risk mitigation solutions, the Corporation enables cross-border capital flows, strengthens investor confidence, and supports economic connectivity across the OIC region

2025 marked a step change in cross-border capital mobilisation, with substantial year-on-year growth in inward, outward, and intra-OIC investment flows

SDGs Supported

Member Countries supported

Last Year: 42

Least Developed Member States (LDMSs) supported

Last year: 14

USD 5,599 million

Inward investment supported in Member Countries

Last year: USD 3,046 million

USD 1,566 million

Outward investment supported in Member Countries

Last year: USD 798 million

USD 325 million

Imports supported in LDMSs

Last year: USD 1,059 million

USD 781 million

Inward investment supported in LDMSs

Last year: USD 459 million

USD 9,283 million

Intra-OIC trade and investment supported

Last year: USD 5,968 million

USD 1,106 million

Trade and investment supported in LDMSs

Last year: USD 1,539 million

Read more in the ADER 2025

Impact Stories

SDGs Supported

01 Reinforcing Iraq’s power transmission backbone through sovereign risk mitigation

Karbi Substations Project, full turnkey solution for 3 new High Voltage Gas Insulated Switchgears

In 2025, ICIEC provided reinsurance support for the financing of three high-voltage 400/132/11kV power substations in Iraq under sovereign-backed structure, marking ICIEC’s first sovereign transaction in the country

Policyholder(s): Euler Hermes Aktiengesellschaft
Sector: Energy
Insurance coverage: 95% of principal loan (commercial and political risk)
Coverage amount: EUR 99,214,056
Risk type covered: Supplier Credit Cover and Buyer Credit Cover

Estimated development impact and key outcomes

Transformation capacity added 4,500 MVA

Substations commissioned 3 (400/ 132/ 11kV)

Voltage level strengthened 400kV transmission backbone

Population benefiting ~ 4 million people

Households benefiting ~ 701,754

Jobs supported through ICIEC enabled activity ~ 873 jobs

02 Strengthening Uzbekistan’s industrial base through domestic steel expansion

Casting and Rolling Complex Project of Uzbek Steel

In 2025, ICIEC provided insurance coverage against NHFO-SOE to support the financing of the Casting and Rolling Complex of JSC Uzmetkombinat (Uzbek Steel) in Bekabad, Uzbekistan

Policyholder(s): Standard Chartered Bank (Singapore) Limited and KfW IPEX-Bank GmbH (Germany)
Sector: Manufacturing
Insurance coverage: 95% cover
Coverage amount: EUR 132,500,000
Risk type covered: Non-Honouring of Financial Obligation by a State Owned Enterprise (NHFO-SOE)

Estimated development impact and key outcomes

Total steel production capacity 2.1 million tons per year (doubling pre-expansion capacity)

Hot-rolled coil (HRC) capacity Up to 900,000 tons per year (import-substituting production)

Estimated market share (post-expansion) >50% of Uzbekistan’s domestic steel consumption

Estimated construction employment ~1,295 new jobs to be created

Annual import substitution value enabled (USD) ~ USD 795 million

03 Advancing Indonesia’s downstream nickel strategy through battery-grade processing

Nickel Smelting Plant development project

In 2025, ICIEC provided reinsurance support for a political risk insurance policy issued by Sinosure to Lygend Resources & Technology Co., Ltd., covering equity investment in PT Obi Nickel Cobalt’s hydrometallurgical smelting facility on Obi Island, Indonesia

Policyholder(s): Sinosure (China Export & Credit Insurance Corporation)
Sector: Manufacturing, Critical Minerals
Insurance coverage: 95% cover, political risk insurance (PRI) policy
Coverage amount: USD 62,500,000
Risk type covered: Expropriation, currency inconvertibility & transfer restriction, and war & civil disturbance

Estimated development impact and key outcomes

Annual nickel metal capacity 62,000 tons per year

Annual cobalt metal capacity 8,000 tons per year

Jobs created through the operational phase ~ 1,902 jobs

Estimated average annual jobs enabled by ICIEC over project life ~ 224 jobs

Annual battery metals production value (USD) ~ 1,512 million

Electric vehicle (EV) battery production equivalent ~ 1.78 million EV batteries annually

Read more in the ADER 2025

Export and Investment Sector Development

ICIEC plays a catalytic role in enabling trade transactions and cross-border investment across Member Countries. By mitigating commercial and political risks, the Corporation helps unlock financing, expand enterprise internationalisation, and support private sector participation in markets

USD 10,809 million

Export transactions facilitated

Last year: USD 8,155 million

USD 8,666 million

Import transactions facilitated

Last year: USD 6,843 million

143 transactions

Number of inward investment transactions

Last year: 122 transactions

USD 5,599 million

Inward investment supported

Last year: USD 3,046 million

30 transactions

Number of outward investment transactions

Last year: 19 transactions

USD 1,566 million

Outward investment supported

Last year: USD 798 million

SDGs Supported

2025 recorded double-digit growth across all major trade and investment categories, signalling strengthened cross-border capital mobilisation and private sector confidence

Read more in the ADER 2025

Impact Stories

SDGs Supported

01 Expanding Sohar Port to strengthen Oman’s trade connectivity and industrial growth

Sohar Port Development

In 2025, ICIEC provided insurance cover against political and commercial non-payment risks for dredging and reclamation works under the Sohar South Phase 2 expansion

Policyholder(s): Boskalis Westminster International B.V. The Netherlands
Sector: Infrastructure
Insurance coverage: 90% cover, Specific Transaction Policy – Contract Frustration
Coverage amount: USD 47,820,803
Risk type covered: Non-payment risk as a result of political and commercial risks

Estimated development impact and key outcomes

Industrial land capacity enabled 2,200 hectares of new industrial and logistics land capacity

Navigation channel and maritime infrastructure expansion 3.8 million m³ of dredging works completed

Share of national trade supported by Sohar Port ~80% of Oman’s import/export flows supported

Estimated jobs supported through ICIEC-enabled activity ~ 279 jobs

Estimated average annual jobs enabled by ICIEC over project life ~ 167 jobs

02 Supporting regional rail connectivity through locomotive exports from Kazakhstan to Azerbaijan

Financial leasing of 10 units of diesel locomotives

ICIEC provided reinsurance support to Kazakh Export JSC for the financial leasing of 10 TE33A diesel locomotives manufactured in Kazakhstan and supplied to Azerbaijan Railways, the national rail transport operator of Azerbaijan

Policyholder(s): Kazakh Export (Kazakhstan)
Sector: Transport (Railways)
Insurance coverage: Inward Facultative Insurance Policy (policy period extension)
Coverage amount: USD 29,780,957 insurance for the first 7 years, and USD 5.61 million extension for 3 years
Risk type covered: Non-payment risk against commercial risks

Estimated development impact and key outcomes

Diesel locomotives deployed to Azerbaijan Railways 10 TE33A locomotives

Rail freight network supported ~ 4,000 km railway network

Cross-border capital goods exports enabled Kazakhstan to Azerbaijan locomotive exports

Regional trade corridor capacity supported Up to 17 million tons of freight annually

Freight transport capacity supported ~ 40,000 tons

03 Securing Pakistan’s energy supply through strategic fuel and LNG

Financing the importation of crude oil, refined petroleum products and Liquefied Natural Gas

ICIEC provided insurance coverage for a Murabaha syndicated trade finance facility arranged by the International Islamic Trade Finance Corporation to support Pakistan’s import of crude oil, refined petroleum products, and LNG

Policyholder(s): Financial institutions from Kuwait and the United Arab Emirates
Sector: Energy
Insurance coverage: 95% cover, Bank Master Policy
Coverage amount: USD 150 million
Risk type covered: Non-payment due to political and commercial risks

Estimated development impact and key outcomes

Energy imports enabled ~ 2.17 million barrels of fuel equivalent

Electricity generation equivalent (MWh) ~ 3.69 million MWh

Share of Pakistan’s total energy supply equivalent (%) ~ 0.31%

Share of Pakistan’s annual natural gas supply equivalent (%) ~ 1.1%

Share of Pakistan’s annual oil supply equivalent (%) ~ 2.5%

Read more in the ADER 2025

Islamic Financial Sector Development

Shariah-compliant risk mitigation remains a defining dimension of ICIEC’s mandate and a key channel for mobilizing capital across Member Countries

Islamic trade and investment mobilisation increased by 349% in 2025, demonstrating significant growth in Shariah-compliant capital flows across Member Countries

SDGs Supported

USD 1,901 million

Islamic trade & investment supported

Last year: USD 424 million

63 transactions

Islamic trade & investment transactions

Last year: 62 transactions

USD 1,503 million

Business insured via the BMP product

Last year: USD 1,748 million

Share of business insured via the BMP product

Last year: 14%

Share of business insured via the DCIP product

Last year: 12%

USD 552 million

Business insured via the DCIP product

Last year: USD 1,508 million

USD 222 million

Business insured via ITFC led syndications

Last year: USD 528 million

19%

Share of business insured via Sovereign Risk Insurance

Last Year: 19%

USD 3,457 million

Business insured via Sovereign Risk Insurance

Last Year: USD 2,457 million

USD 5,945 million

Business insured via Foreign Investment Insurance

Last year: USD 3,046 million

Read more in the ADER 2025

Impact Stories

SDGs Supported

01 Strengthening regional trade connectivity through the Lagos–Calabar coastal highway

Construction of the Lagos-Calabar coastal highway

The Lagos-Calabar Coastal Highway is a flagship national infrastructure project led by the Federal Government of Nigeria to strengthen coastal connectivity and support regional trade integration across West Africa. The project will span approximately 700 km along Nigeria’s southern coastline, connecting Lagos to Calabar and forming part of the broader Trans-West African Coastal Highway corridor.

Policyholder(s): First Abu Dhabi Bank - United Arab Emirates Deutsche Bank AG - Germany
Sector: Transportation
Insurance coverage: Up to 95% political risk insurance cover
Coverage amount: USD 1,266 million across two Murabaha financing facilities
Risk type covered: Non-Honouring of Sovereign Financial Obligation

Estimated development impact and key outcomes

Highway infrastructure enabled 54.5 km coastal highway section constructed

Regional trade corridor enabled 4+ economies connected

Share of Lagos–Calabar corridor enabled ~ 7.8%

Estimated population benefiting from improved connectivity ~ 1.1 million people

Communities benefiting from improved connectivity 22 coastal communities

02 Expanding access to Islamic finance for SMEs through the Madinah digital financing platform

Madinah Project - Islamic finance for SMEs, micro sized business

ICIEC supported a Shariah-compliant Murabaha financing facility arranged by Standard Chartered Bank for Agrobank in Uzbekistan, enabling the bank to expand Islamic financing products for small and micro-sized enterprises. The facility supports Agrobank with on-lend funds to SMEs and retail entrepreneurs through its digital financing platforms.

Policyholder(s): Standard Chartered Bank (SCB)
Sector: Finance
Insurance coverage: 95% cover
Coverage amount: EUR 184,509,960
Risk type covered: Non-honouring of a financial obligation by a state-owned enterprise

Estimated development impact and key outcomes

Islamic SME financing enabled ~ EUR 184.5 million insured financing

Digital financial inclusion platforms leveraged 2 platforms (OPEN and SmartBank B2B)

Micro-entrepreneurs supported ~ 6,000 - 7,000 micro-entrepreneurs supported

Read more in the ADER 2025

Human Development

ICIEC’s underwriting activities contribute to human development by enabling investment in sectors that generate employment, strengthen productive capacity, and expand access to essential goods and services across Member Countries

USD 6,425 million

Support to employment-intensive sectors enabling livelihoods

Last year: USD 4,397 million

USD 4,652 million

Services support

USD 1,446 million

Manufacturing support

USD 113 million

Wholesale and retail trade support

USD 214 million

Agriculture support

USD 361 million

Health sector support

Last year: USD 477 million

SDGs Supported

ICIEC supported USD 6.4 billion in employment-intensive sectors in 2025, reinforcing its role in enabling livelihoods and inclusive economic growth across Member Countries

Read more in the ADER 2025

Impact Stories

SDGs Supported

01 Unlocking regional growth through the Antalya–Alanya Motorway

Antalya-Alanya Motorway Project

In 2025, ICIEC provided Non-Honouring of Sovereign Financial Obligation (NHSFO) cover for a Murabaha financing facility supporting the Antalya–Alanya Motorway Project in Türkiye. The project is being implemented under a 15-year Build-Operate-Transfer (BOT) concession, comprising three years of construction followed by 12 years of operation.

Policyholder(s): Deutsche Bank AG, Germany
Sector: Transportation
Insurance coverage: 95% cover
Coverage amount: EUR 230,000,000
Risk type covered: Non-Honouring of Sovereign Financial Obligation (NHSFO)

Estimated development impact and key outcomes

Highway length delivered 117.8 km

Guaranteed traffic volume 100,000 vehicle equivalents per day (AADT)

Travel time savings ~30 minutes for long-distance users

Total economic activity generated EUR 6.8 billion (construction to end of concession)

Fiscal contribution EUR 713.8 million in additional tax revenues

Jobs to be created 9,267 jobs

Jobs supported through ICIEC-enabled activity ~ 1949 jobs

Average annual jobs supported by ICIEC over project life ~ 139 jobs

02 Enabling food security in Egypt through trade finance

Syndicated Murabaha Facility arranged by ITFC

ICIEC provided insurance coverage for a syndicated Murabaha trade finance facility arranged by the International Islamic Trade Finance Corporation to support the import of essential food commodities for Egypt. The transaction finances the procurement of staple commodities, including wheat, sugar, and edible oils, through Egypt’s General Authority for Supply Commodities (GASC), ensuring the continued operation of the country’s food subsidy system.

Policyholder(s): Kuwait Finance House (KFH)
Sector: Food security
Insurance coverage: 95% cover, BMP
Coverage amount: USD 300 million
Risk type covered: The non-payment risk of the Government of Egypt due to commercial or political reasons

Estimated development impact and key outcomes

Beneficiaries of national food subsidy system 60+ million citizens

Share of national wheat import requirement supported ~ 8.5% of Egypt’s annual wheat import requirement equivalent

Staple food imports enabled ~ 1 million tonnes of staple food imports facilitated

Share of national cereal imports ~ 4.9% of Egypt’s annual cereal import requirement

Read more in the ADER 2025

Strategic Outlook for 2026