ICIEC provides $20 million insurance cover for Turkmenistan to import key transportation equipment from Japan
ICIEC provided US$20 million insurance cover to ING Bank (Tokyo Branch) for a financing facility to Turkmenistan to buy Toyota taxis, buses and minibuses supplied by Sumitomo Corporation. They will be used for intra and intercity transportation in Ashgabat and throughout Turkmenistan and will help ease congestion. The seven year insurance cover to mitigate non-payment risk comes under ICIEC’s Non-Honouring of Sovereign Financial Obligations Policy. The extended financing facility to the Government of Turkmenistan is through the State Bank for Foreign Economic Affairs (TFEB).
ICIEC provides $40 million non-payment risk cover for Turkmenistan to import vital agricultural machinery from Japan
ICIEC provided US$ 40 million insurance cover to ING Bank (Tokyo Branch) for a financing facility to Turkmenistan for the purchase of Komatsu machinery from Japan for the development of the country’s agriculture sector. The seven yer insurance cover to mitigate non-payment risk comes under ICIEC’s Non-Honouring of Sovereign Financial Obligations Policy. The extended financing facility to the Government of Turkmenistan is through the State Bank for Foreign Economic Affairs (TFEB).