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Tuesday, January 31, 2023

Launch Partners

ICIEC grants coverage for Sumitomo Mitsui Banking Corporation to finance sustainability project in the UAE

GLOBAL: The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a member of the IsDB Group, has granted a non-honoring of sovereign financial obligations facility to Sumitomo Mitsui Banking Corporation (SMBC) in the UK to finance a waste-to-energy project in Sharjah in the UAE in line with the country’s Vision 2021 initiative, according to an official LinkedIn post.

ICIEC said the project will generate energy and employ approximately 1,000 workers during construction and 50 workers during operation, resulting in an estimated net reduction of 460,000 carbon dioxide equivalent per year

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