Saudi Arabia:ICIEC provides US$156.96m insurance coverage for Turkish rail project

By Jake Nathanoel Dellosa | 14 Dec 2025

Jeddah-headquartered multilateral financial institution, Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), has approved insurance coverage of EUR135m ($156.96m) against non-performance of sovereign financial obligations (NHSFO) in support of the Kars-Igdir-Aralik-Dilucu (KIAD) high-standard railway project in Turkiye.

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