Istanbul: The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) provided insurance support last year for three railway projects in Trkiye and Georgia, aimed at enhancing regional integration, as revealed by Khalid Khalafalla, Chief Executive Officer of ICIEC, during a plenary discussion at the Private Sector Forum 2026 held in conjunction with the annual meetings of the Islamic Development Bank Group (IsDB), APA reports.
According to Azeri-Press News Agency, Khalafalla emphasized the critical role of transport infrastructure in ICIEC's operations. He stated, "We play an important role in supporting infrastructure projects, particularly in the transport sector. Since these projects are usually large-scale, it is not possible to implement them alone. Therefore, we cooperate with the World Bank Group's MIGA agency, export credit agencies from Arab countries and the African region, as well as European partners."
He highlighted the collaboration with export credit agencies in Germany, France, and Spain on railway projects. "Last year, we provided insurance coverage for three railway projects in Trkiye. One of these projects was located near the border with Azerbaijan. We also supported a port project in Georgia. These initiatives serve to strengthen regional integration," Khalafalla added.
The ICIEC's insurance mechanisms not only reduce risks for investors but also ease access to financial resources. Khalafalla mentioned, "In some cases, risks are real, while in others they stem from perceptions formed about a country. The insurance and credit rating support we provide enable countries to attract more investment and mobilize additional financial resources."
Touching on other sectors, he noted the importance of energy infrastructure, saying, "Energy projects serve not only to meet domestic demand but also to expand export opportunities to neighboring countries. Our support for transport and energy infrastructure makes a significant contribution to the development of regional cooperation and trade."