ICIEC provides €150 million insurance coverage for financing of highway project in Türkiye

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a member of the Islamic Development Bank (IsDB) Group, has provided €150 million in insurance coverage for the financing of part of a highway project in Türkiye.

According to Report, citing a statement released by the Bank, 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.