Saudi Arabia-based Islamic Corporation for the Insurance of Investment and Export Credit has announced a significant insurance agreement with Deutsche Bank AG. The partnership involves the signing of a Non-Honouring of a Sovereign Financial Obligation (NHFSO) insurance policy during the IsDB Group Annual Meeting 2024 in Riyadh. This policy facilitated a 161.4 million euros ($173.7 million) financing arrangement by Deutsche Bank for the Government of the Republic of Côte d’Ivoire, aimed at constructing new hospitals in Kong and Odienne, enhancing healthcare infrastructure in the country.
The NHFSO insurance policy signed between ICIEC and Deutsche Bank signifies a strategic move to boost healthcare infrastructure in Côte d’Ivoire. This partnership underscores ICIEC's broader strategy to promote sustainable development and improve the quality of life in member states by supporting essential social infrastructure projects.