Deutsche Bank funds US$174M hospital construction in Côte d’Ivoire

Côte d’Ivoire— The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC),  a member of the Islamic Development Bank (IsDB) Group has partnered with Deutsche Bank to support a €161.4 million (US$174.27million) healthcare infrastructure project in Côte d’Ivoire.

The funding will be used to build new general and regional hospitals in Kong and Odienne, significantly improving the country’s medical facilities.

The agreement was signed as Non-Honoring of a Sovereign Financial Obligation (NHFSO) by the Ministry of Economy and Finance during the IsDB Group Annual Meeting 2024 in Riyadh

Mr. Oussama Kaissi, CEO of ICIEC, and Mrs. Irina Dudkina, Head of Structuring at Deutsche Bank, signed the agreement.

Speaking during the signing, ICIEC CEO, Mr. Oussama Kaissi, highlighted the project’s importance in strengthening Côte d’Ivoire’s healthcare system.

This strategic investment will not only improve access to medical care but also contribute to the region’s long-term healthcare resilience.

This initiative aligns with ICIEC’s mission to promote sustainable development through vital social infrastructure projects in member countries.

ICIEC CEO Mr. Oussama Kaissi stated that this partnership with Deutsche Bank represents a big step forward in Côte d’Ivoire’s healthcare system.

He went on to explain that the strategic finance will help with crucial infrastructure development and strengthen the region’s healthcare resilience, demonstrating ICIEC’s commitment to fostering sustainable development through meaningful collaborations.

This effort is part of ICIEC’s larger plan to assist critical social infrastructure projects in its member nations, supporting sustainable development and improving communities’ quality of life through enhanced healthcare facilities.

ICIEC commenced operations in 1994 to strengthen economic relations between OIC Member States and promote intra-OIC trade and investments by providing risk mitigation tools and financial solutions.

The Corporation is uniquely the only Islamic multilateral insurer in the world. It has led from the front in delivering a comprehensive suite of solutions to companies and parties in its 49 member states.

For the 16th year in a row, ICIEC has maintained an “Aa3” insurance financial strength credit rating from Moody’s, placing it among the top in the Credit and Political Risk Insurance (CPRI) industry.

Furthermore, S&P has assigned ICIEC a First-Time AA- long-term Issuer Credit Rating with a Stable Outlook, citing its strong underwriting, reinsurance, and risk management policies.

Through its efforts in various areas, such as energy, manufacturing, infrastructure, healthcare, and agriculture, ICIEC has guaranteed about US$108 billion in trade and investment.

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