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Islamic Corporation for the Development of the Private Sector (ICD)

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    • CORRECTION: Islamic Corporation for the Development of the Private Sector (ICD) and the Islamic Republic of Mauritania sign cooperation framework to advance private sector development and strategic investment
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Source: Islamic Corporation for the Development of the Private Sector (ICD) |

CORRECTION: Islamic Corporation for the Development of the Private Sector (ICD) and the Islamic Republic of Mauritania sign cooperation framework to advance private sector development and strategic investment

An important part of the MoU is ICD's continued engagement, on a strictly non-binding and best-effort basis, to arrange a Shariah-compliant syndicated or club financing facility for a proposed mining project of strategic importance

Three-year Memorandum of Understanding signed to strengthen ICD's cooperation with the Islamic Republic of Mauritania. ICD to support Shariah-compliant financing mobilization for a proposed mining project of strategic importance. Cooperation to support sovereign credit rating readiness, PPP ecosystem development, and SME financing. The Islamic Corporation for the Development of the…

Islamic Corporation for the Development of the Private Sector (ICD)

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    • Islamic Corporation for the Development of the Private Sector (ICD) and the Islamic Republic of Mauritania sign cooperation framework to advance private sector development and strategic investment
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Source: Islamic Corporation for the Development of the Private Sector (ICD) |

Islamic Corporation for the Development of the Private Sector (ICD) and the Islamic Republic of Mauritania sign cooperation framework to advance private sector development and strategic investment

A central pillar of the MoU is ICD's commitment, on a non-binding and best-effort basis, to arrange a Shariah-compliant syndicated or club financing facility of up to USD 900 million in favor of Mauritania Saudi Mining and Steel S.A. (Takamul)

Three-year Memorandum of Understanding signed to strengthen ICD's cooperation with the Islamic Republic of Mauritania. ICD to arrange a Shariah-compliant syndicated financing facility of up to USD 900 million for the Atomai iron ore project, on a best-effort basis. Cooperation to support sovereign credit rating readiness, PPP ecosystem development, and…

Islamic Corporation for the Development of the Private Sector (ICD)
Source: Islamic Corporation for the Development of the Private Sector (ICD) |

The Islamic Corporation for the Development of the Private Sector (ICD) Participates in Saudi Telecom Company's USD 2.0 Billion Dual Tranche Sukuk Issuance

The transaction's competitive pricing underscores market recognition of STC's operational excellence, digital transformation agenda, and alignment with Saudi Vision 2030

ICD serves as Joint Lead Manager for STC's USD 2.0 billion dual-tranche Sukuk. First-time collaboration between ICD and Saudi Arabia's largest telecommunications company. Transaction achieves 4x oversubscription with USD 8 billion in total orders from 300+ global investors. Competitive pricing reflects strong market confidence in STC's credit quality and strategic…

Islamic Corporation for the Development of the Private Sector (ICD)
Source: Islamic Corporation for the Development of the Private Sector (ICD) |

The Islamic Corporation for the Development of the Private Sector (ICD) extends USD 20 million Islamic financing to expand Jordan’s non-woven fabrics industry

The financing will enable API to acquire cutting-edge Spunlace technology, enhancing production efficiency and product diversification

USD 20 million medium-term Islamic finance facility to expand non-woven fabrics production capacity through advanced Spunlace equipment. API is Jordan's leading non-woven fabrics manufacturer, producing essential materials for personal hygiene products, healthcare PPE including gowns and face masks, and agricultural applications. The expansion aims to create substantial employment opportunities, strengthening…

Islamic Corporation for the Development of the Private Sector (ICD)
Source: Islamic Corporation for the Development of the Private Sector (ICD) |

Landmark USD 30 Million Disbursement to Uganda Development Bank Limited to Boost Economic Growth

This landmark transaction paves the way for future collaborations between ICD and local financial institutions in Uganda

The Islamic Corporation for the Development of the Private Sector (ICD) (https://ICD-ps.org/), a member of the Islamic Development Bank (IsDB) Group, has successfully disbursed a USD 30 Mn financing facility to Uganda Development Bank Limited (UDBL) in Uganda. This strategic facility marks ICD’s first Line of Finance transaction in Uganda and…

Islamic Corporation for the Development of the Private Sector (ICD)

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    • Islamic Corporation for the Development of the Private Sector Signs the Country Work Program 2025 for Egypt, Unveiling $100 Million Financing Plan
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Source: Islamic Corporation for the Development of the Private Sector (ICD) |

Islamic Corporation for the Development of the Private Sector Signs the Country Work Program 2025 for Egypt, Unveiling $100 Million Financing Plan

The agreement was officially signed by Engineer Hani Salem Sonbol, Acting CEO of ICD, who highlighted the corporation’s ongoing commitment to Egypt's economic development

The Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-ps.org), the private sector arm of the Islamic Development Bank Group (IsDB), has signed it’s the Country Work Program 2025 for Egypt, marking a significant milestone in its strategic partnership with the country. The signing ceremony took place in…

Islamic Corporation for the Development of the Private Sector (ICD)

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    • Islamic Corporation for the Development of the Private Sector (ICD) Commits Eur 40 Million to Nakkas- Basaksehir Section of Türkiye’s Northern Marmara Highway Project
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Source: Islamic Corporation for the Development of the Private Sector (ICD) |

Islamic Corporation for the Development of the Private Sector (ICD) Commits Eur 40 Million to Nakkas- Basaksehir Section of Türkiye’s Northern Marmara Highway Project

It involves a 31.3-km toll road, including a 1.6-km cable-stayed bridge and multiple overpasses and underpasses

ICD is investing EUR 40 million in the Nakkaş-Başakşehir section as part of a EUR 1.04 billion funding package. The project incorporates solar energy and LED lighting, aiming to cut energy use and emissions significantly. It’s backed by a consortium led by Rönesans Holding, with support from MDBs and ECAs.…

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    • Empowering Türkiye's Energy Sector: The Islamic Corporation for the Development of the Private Sector (ICD) And Sampa Sign Eur 15 Million Term Sheet
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Source: Islamic Corporation for the Development of the Private Sector (ICD) |

Empowering Türkiye's Energy Sector: The Islamic Corporation for the Development of the Private Sector (ICD) And SAMPA Sign Eur 15 Million Term Sheet

Through this partnership, SAMPA will construct a 21 MW captive solar power plant, which will reduce energy costs, lower CO2 emissions, and ultimately support Türkiye in achieving its net-zero targets

The Islamic Corporation for the Development of the Private Sector (ICD) is providing financing of €15 million to Türkiye’s Sampa Otomotiv Sanayi ve Ticaret A.Ş. (SAMPA) to support the development and construction of a 21 MW captive solar energy capacity. This agreement marks a significant partnership between ICD and SAMPA,…

Islamic Corporation for the Development of the Private Sector (ICD)

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    • Metin Akdoğan, Deputy CEO of Golden Global Investment Bank and Eng. Hani Salem Sonbol, Acting CEO of ICD
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Source: Islamic Corporation for the Development of the Private Sector (ICD) |

Golden Global Investment Bank Signs Letter of Intent for $20M Line of Finance from the Islamic Development Bank Group

The line will be utilized by Golden Global Investment Bank for onward financing of eligible private sector projects in Türkiye

Negotiations between the Islamic Corporation for the Development of the Private Sector (ICD) (https://ICD-ps.org) and Golden Global Investment Bank have successfully concluded with the signing of a letter of intent, for the proposed extension of a USD 20 million line of finance facility, during the IsDB Group's 2024 Private Sector…

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    • Islamic Corporation for the Development of the Private Sector (ICD) Signs 11 Transformative Agreements Aimed at Spearheading Private Sector Expansion in Member Countries
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Source: Islamic Corporation for the Development of the Private Sector (ICD) |

Islamic Corporation for the Development of the Private Sector (ICD) Signs 11 Transformative Agreements Aimed at Spearheading Private Sector Expansion in Member Countries

These agreements underscore ICD’s commitment to driving sustainable growth and prosperity through strategic partnerships and financial support

The Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-PS.org) is pleased to announce the signing of 11 pivotal agreements aimed at fostering economic development and facilitating private sector growth and access to capital in several of its member countries. These agreements underscore ICD’s commitment to driving sustainable…