EGYPT: The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) has granted Egypt’s Ministry of Finance a non-honoring of sovereign financial obligations (NHFSO) coverage for US$56 million, according to an official LinkedIn post.
The grant will cover Sumitomo Mitsui Banking Corporation Group’s share in the syndicated green term loan of up to US$3 billion. ICIEC has also extended a US$68 million foreign investment insurance policy-equity for Alcazar Energy.