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 the financing of the Kınalı–Malkara section of the Kınalı–Tekirdağ–Çanakkale–Savaştepe Motorway Project in the Republic of Türkiye. The transaction was signed on the sidelines of the IsDB Group 2026 Annual Meetings, held in Baku, Azerbaijan, from 16 to 19 June 2026.
The EUR 150 million financing facility was arranged by Standard Chartered on behalf of a pool of banks involving Standard Chartered, DZ Bank AG, and ING Bank. ICIEC provides 95% insurance cover through its Non-Honouring of Sovereign Financial Obligations (NHSFO) Policy, supporting a strategic transport infrastructure project developed by Çanakkale Otoyol ve Köprüsü İnşaat Yatırım ve İşletme A.Ş.
The Kınalı–Malkara Motorway forms a key segment of Türkiye’s wider Kınalı–Tekirdağ–Çanakkale–Savaştepe Motorway corridor. Once completed, the project is expected to reduce travel times, improve journey reliability, lower transport costs, and strengthen connectivity across the Thrace region and beyond. The motorway is also expected to support regional economic development by improving the movement of goods and people, enhancing industrial and agricultural logistics, attracting investment, and creating employment opportunities across transportation, logistics, construction, tourism, and related sectors. By diverting traffic from existing roads and populated areas, the project will also help reduce congestion and improve road safety.
Commenting on the transaction, Dr. Khalid Khalafalla, Chief Executive Officer of ICIEC, said: “Strategic transport infrastructure is a catalyst for economic transformation. Through this transaction, ICIEC is helping unlock long-term financing for a project that will strengthen regional connectivity, facilitate trade, improve logistics efficiency, and create new opportunities for businesses and communities across Türkiye. We are proud to support an initiative that not only enhances mobility but also contributes to sustainable economic development and regional competitiveness. The signing of this agreement during the IsDB Group Annual Meetings in Baku further underscores the value of partnership in delivering tangible development outcomes.”
Distributed by APO Group on behalf of Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC).
Contact:
Email: ICIEC-Communication@isdb.org
Follow us on:
X: https://apo-opa.co/3QuotAH
Facebook: https://apo-opa.co/4xCWK1B
LinkedIn: https://apo-opa.co/4gcaTN9
YouTube: https://apo-opa.co/4equA0Y
Instagram: https://apo-opa.co/4gsUKTp
About ICIEC:
As a member of the rated Islamic Development Bank (IsDB) Group, ICIEC commenced operations in 1994 to strengthen economic relations between OIC Member States and promote intra-OIC trade and investments by providing risk mitigation tools and Shariah-compliant financial solutions. The Corporation is the only Islamic multilateral insurer in the world. ICIEC has led in delivering a comprehensive suite of solutions to companies and stakeholders across its 51 Member States. For the 18th consecutive year, ICIEC maintained an “Aa3” insurance financial strength credit rating from Moody’s, ranking the Corporation among the top tier of the Credit and Political Risk Insurance (CPRI) industry. Additionally, S&P has reaffirmed ICIEC’s “AA-” long-term Issuer Credit and Financial Strength Rating for the third consecutive year, with a Stable Outlook. ICIEC’s resilience is underpinned by its sound underwriting practices, a robust global reinsurance network, and strong risk management policies. Cumulatively, ICIEC has insured more than USD 138 billion in trade and investment. ICIEC’s activities span several key sectors, including energy, manufacturing, infrastructure, healthcare, and agriculture.
For more information, Visit: https://ICIEC.IsDB.org
