Some notable financial institutions have resolved to partner to facilitate and boost infrastructure development in Saudi Arabia.
The institutions are the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and Kingdom of Saudi Arabia’s National Infrastructure Fund (INFRA).
ICIEC will support INFRA’s efforts to accelerate strategic infrastructure projects in the Kingdom, contributing to the goals of Saudi Vision 2030
This pivotal Memorandum of Understanding (MoU) was signed during the IsDB Group Annual Meeting 2024, which took place in Riyadh, Saudi Arabia, by ICIEC’s CEO, Mr. Oussama Kaissi, and Eng. Esmail Alsallom, CEO of INFRA and witnessed by H.E. Dr. Muhammad Al Jasser, Chairman of the Board of Directors of ICIEC.
This MoU establishes a framework for cooperation between ICIEC and INFRA. Key initiatives include exploration of opportunities of mutual interest within the Kingdom in line with its developmental objectives, institutional cooperation and knowledge exchange through continuation of dialogue and participation in relevant events.
Additionally, the parties will coordinate participation in field-related activities and foster affiliations with relevant entities or professional associations to strengthen collaborative ties.
Through this collaboration, ICIEC will support INFRA’s efforts to accelerate strategic infrastructure projects in the Kingdom, contributing to the goals of Saudi Vision 2030.
Mr. Oussama Kaissi, the CEO of ICIEC, expressed his pleasure about the agreement, stating,
“We are delighted to enter into this collaboration with INFRA. Our joint efforts will focus on strengthening the economic frameworks within our member states.
“This MoU sets the tone of our shared commitment to promoting sustainable development through enhanced understanding and cooperation in insurance solutions and infrastructure development in the Kingdom.”
