The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) (https://ICIEC.IsDB.org), a Shariah-based multilateral credit and political risk insurer and member of the Islamic Development Bank Group, is pleased to announce its support for a EUR 100 million financing facility extended by ING Bank (Germany) and SMBC Bank International Plc (United Kingdom) to the Export Credit Bank of Türkiye (Türk Eximbank).
The transaction was signed on the sidelines of the IsDB Group 2026 Annual Meetings, held in Baku, Republic of Azerbaijan, from 16 to 19 June 2026.
ICIEC is providing Non-Honoring of Financial Obligations for State-Owned Enterprises (NHFO-SOE) insurance cover for a tenor of 10 years, helping Türk Eximbank access long-term funding to expand affordable export financing for Turkish companies, particularly SMEs.
Türk Eximbank serves a broad base of Turkish corporates, predominantly SMEs. The facility will help expand access to affordable financing, enabling these companies to scale their operations, pursue new markets, and support employment creation in line with Türkiye’s export growth strategy.
Commenting on the transaction, Dr. Khalid Khalafalla, Chief Executive Officer of ICIEC, said: “SMEs are central to Türkiye’s export ambitions and long-term economic resilience. Through this facility, ICIEC is helping Türk Eximbank broaden access to competitive financing for companies seeking to expand beyond domestic markets. This agreement reflects the practical value of multilateral cooperation in enabling trade, supporting enterprise growth, and creating lasting development impact.”
