ICIEC, KIND Sign MoU to Foster Public-Private Partnerships in ICIEC Member States, Korea

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a Shariah-based multilateral insurer and member of the Islamic Development Bank (IsDB) Group, has signed a memorandum of understanding with the Korea Overseas Infrastructure and Urban Development Corporation (KIND). According to a press release issued by ICIEC today, the MoU, signed in Korea by ICIEC Director of Business Development Department Yasser Alaki and KIND Executive Vice President Byung Chul Won, aims to enhance collaboration on Public-Private Partnership (PPP) projects in ICIEC member states and the Republic of Korea. It also outlines both entities' commitment to collaborate on various PPP projects, with a focus on critical infrastructure, clean energy technologies, and renewable energy generation. Alaki said: "This partnership marks a pivotal step in strengthening the ties between our institutions and leveraging our collective expertise to address the pressing infrastructure and development needs of our member sta tes. By collaborating with KIND, we are committed to driving sustainable growth and innovation through PPPs that can transform communities and economies." The collaboration under this MoU reflects ICIEC's commitment to facilitating investment and promoting sustainable development in its member states. Both organizations look forward to realizing impactful projects that align with their shared objectives, said the release. Source: Saudi Press Agency