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Von: Jeremy Soland
Turkish motorway project wins award
Photo: ICIEC
The Nakkaş–Başakşehir motorway in Turkey, backed by the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), has won Txf’s ‘Social Infrastructure Deal of the Year 2024’.
The EUR 1.044 billion project involves developing a 35 km greenfield section of the northern Marmara motorway, connecting Turkey’s Asian and European regions.
ICIEC supported the financing with a EUR 74 million non-honouring of sovereign financial obligations policy and equity investment insurance.
“Together, we leveraged synergies to mobilise Islamic finance and de-risk strategic infrastructure,” said ICIEC CEO Dr Khalid Khalafalla. (js)