ICIEC at aGlance& Portfolio

1 Islamic Development Bank Group (IsDBG)

Islamic Development Bank (IsDB/the Bank) is a multilateral Islamic financial institution established to foster socio-economic development in member countries and Muslim communities in non-member countries. The Bank commenced operations in 1975 and provides development financing and other assistance in compliance with Shari’ah. The Bank has experienced significant growth and has now evolved into the IsDB Group comprising six Group Members.

Islamic Development Bank (IsDB) IsDB is rated AAA by: Islamic Research The Islamic Islamic International Islamic Solidarity Provides project financing & Training Corporation for Corporation for Islamic Trade Fund for for infrastructure, and social Institute (IRTI) the Insurance of theDevelopment Finance Development development and equity Provides training, Investment and of the Private Corporation (ISFD) participation in strategiccorporate Export Credit Sector (ICD) (ITFC) and financial institutions. research, Provides financial advisory and (ICIEC) Provides project Provides support to capacity building Provides political finance solutions financing and enhance the IsDB Vision IsDB Mission for development and commercial to develop the capacity building productive By the year 1440H, the To promote comprehensive of the Islamic risk insurance private sector to encourage capacity and Islamic Development human development, with Financial Service and reinsurance in member intra-trade across sustainable Bank will have become a a focus on the priority Industry. solutions. ICIEC countries. ICD is OIC member means ofincome world-class development areas of alleviating is rated Aa3 by rated AA byFitch, countries. ITFC for the poor. bank, inspired by Islamic poverty, improving health, Moody’s. Aa3 by Moody’s is rated A1 by values ofcomprehensive promoting education, and A+ byS&P. Moody’s and AA- human development in improving governance and by IIRA. the Muslim world and prospering the people. help restore its dignity.

2 5 ICIEC at a glance... ICIEC is a Unique International FinancialInstitution

Established in 1994 in Jeddah - Saudi Arabia as a multilateral institution and member of the Islamic Development Bank Group

Owned by AAArated Authorized Capital Rated Aa3 Pioneer of Shari’ah Islamic Development Bank and Islamic Dinar by Moody’s with a compliant export 45 countries which are members (ID) 400 million Stable Outlook. credit and investment of the Organization of Islamic (equivalent to USD 556 insurance and Cooperation million) (1 ID=USD 1.39). reinsurance solutions.

Our Vision Our Mission ICIEC Strategy To be recognized To facilitate trade • To enhance economic development in as the preferred and investment member countries and ensure financial enabler of trade between member sustainability. and investmentfor countries and the • To be the preferred enabler of economic sustainable economic world through and social development in member development in Shari’ah-compliant countries, using trade credit and Member Countries. risk mitigationtools. investment insurance solutions as a tool.

3 7 ICIEC member countries and shareholding ICIEC Supports Trade & Investment Flows in 47 Member Countries

Top 10 shareholders Central Asia &Europe Albania, Kazakhstan, IsDB 52% Turkey Saudi Arabia 20.80% Iran 3.47% Kuwait 2.60% Southeast Asia UAE 2.60% Bangladesh, Brunei Egypt 2.32%

Darussalam, Indonesia, IsDB Kazakhstan 2.25% Iran, Malaysia, Pakistan Morocco 1.73% 52 Qatar 1.73% 39 Turkey 1.73% Arab AsianCountries Bahrain, Iraq, Jordan, Other shareholders Kuwait, Lebanon, Oman, Palestine, Iraq 0.17% Qatar, Saudi Arabia, Jordan 0.17% Syria, UAE, Yemen Lebanon 0.17% Oman 0.17% Albania 0.09% North Africa Benin 0.09% Algeria, Egypt, 9 Brunei Darussalam 0.09% Libya, Mauritania, Cameroon 0.09% Chad 0.09% Morocco, Sudan, Tunisia Comoros 0.09% Bahrain 1.26% Djibouti 0.09% Malaysia 0.95% Gabon 0.09% Pakistan 0.87% Guinea 0.09% South West Africa East & Central Africa Nigeria 0.76% Mali 0.09% America Benin, Burkina Cameron, Chad, Libya 0.52% Mauritania 0.09% Suriname Faso, Côte Comoros, Djibouti, Algeria 0.35% Mozambique 0.09% d’Ivoire,Gambia, Gabon, Mozambique, Tunisia 0.35% Niger 0.09% Guinea, Mali, Uganda Yemen 0.35% Palestine 0.09% Sudan 0.26% Niger, Nigeria, Senegal 0.09% Burkina Faso 0.24% Suriname 0.09% Senegal Bangladesh 0.17% Syria 0.09% Indonesia 0.17% Uganda 0.09%

4 6 ICIEC trade & investment insurance solutions ...

ICIEC is the only multilateral export credit and investment insurance Corporation in the world that provides Shari’ah-Compliant insurance and reinsurance solutions

TRADE & INVESTMENT INSURANCE SOLUTIONS TAKAFUL BUSINESS MODEL

Banks & Export Credit Financial Agencies(ECAs)/ Institutions Corporates Insurers

Managing Insurance Managing the Operations Shareholders (contributions and Fund by Investing Credit Investments Credit Investments ExportCredit claims) on behalf of the capital Insurance Insurance Insurance Insurance andInvestment Policyholders solutions solutions solutions solutions Reinsurance QARD HASAN (DEFICIT)

REPAYMENT (SURPLUS)

Insurance Non-Honoring PoliticalRisk Compensation Insurance Insurance ofconfirmed of Sovereign Reinsuranceand ofSupplier for Equity Co-insurance Lettersof Financial Credit investments/ Contributions Credit Obligations Projects Policyholder's Shareholder's Fund Fund

PoliticalRisk BuyerCredit Insuranceof Insurance Cross-Border SURPLUS Loans Policyholder Shareholder

5 9 ICIEC added value...

Mitigation Creating synergy Creating Credit Dispute of Political & with IsDB Group: re-insurance Enhancement: resolution: (A and B loan capacity: Commercial ICIEC’s Aa3 ICIEC’s early Risks structures from the private rating helps involvement in a IsDB, ITFC, ICD) market (Lloyd’s Member dispute between to mobilize market, corporate Countries in the investor and resources from reinsurers) reaching a the Member international broader base Country may lenders of international prevent it to finance with escalate into a longer terms (up claim situation to 20 years)

6 ICIEC Performance Highlights... Since inception, ICIEC has insured over USD 51 billion in trade and investment

Business Insured over the past 5 years

4500

4000 3861.3 3597.4

3500 2916.5 2500 FII MT ST 2000 2014 430.5 576.8 2916.5

1500

Million 1302.4 1298.2 2015 1004.8 265.3 3861.3

1000 1004.8

903.1

576.8

430.5 431.3

500 353.4 2016 1302.4 353.4 3597.4

265.3

196.7 157.8 0 44.7 2017 903.1 196.7 431.3 2014 2015 2016 2017 2018

FII MT ST 2018 1298.2 44.7 157.8

Over ICIEC 25 years it has paid upwards of USD 82 million in claim

7 15 ICIEC Performance Highlights... ICIEC has supported a variety of sectors in member countries over the past 25 years

AGRICULTURE ENERGY INFRASTRUCTURE MANUFACTURING HEALTH US$1.3 billion US$15.5 billion US$3.7billion US$17.1 billion US$512.8 Million

TRADE SERVICES OTHERS CONSTRUCTION US$3.8Million US$4.5 billion US$5.9 billion US$2.3 billion

8 Sample Transactions EXPORTS from Turkey to Other Member Countries

9 ICIEC Sample of Underwritten Projects

Turkish Exports

DETAILS: • Reinsured: Turk Eximbank (national ECA of Turkey) • Cover Against: Non-payment of Insurance importers from all over the world • Insurance Duration : 1 year Turkish • Percentage of cover : 90% • Transaction Value : USD 1.2 billion Exporters • Status : Active

Export of goods DEVELOPMENTAL IMPACT: and services • Help Turk Eximbank support exporters in expanding their businesses Importers all over the world

10 ICIEC Sample of Underwritten Projects

Turkish Export of Goods & Services, Mali

DETAILS: • Kinza Yapi was awarded for the interior design and refurbishment of a Sheraton hotel in Bamako, Mali . African Export-Import Bank was the financier of the project and Coris Bank was the agent bank. • Issuing Bank: Coris Bank issued a revolving Letter of L/C İssuance Contract Credit (L/C) in 5 parts totalling USD 25 million in favor of the contractor.

ICIEC’s ROLE • Policy Holder: Kinza Yapi, Turkey Company • Policy: Specific Transaction Policy (STP) ICIEC issued from Cote a Specific Transaction Policy (STP) to Kinza Yapi d’lvoire insuring the non-payment risk of the L/C due to commercial and/or political reasons.

DEVELOPMENTAL IMPACT: Financing • Help Kinza increase their exports and expand their Agreement business in member countries.

Agency Agreement 11 ICIEC Sample of Underwritten Projects

Turkish Export of Goods & Services, Uzbekistan

DETAILS: • Exporter: Kinza Yapi was awarded the project by the Government of Uzbekistan for the refurbishment of an hotel in Uzbekistan and National Bank for Foreign 5.L/C Economic Activity of the Republic of Confirmation Uzbekistan (NBU) issued an L/C to KuveytTurk Participation Bank. 4.Insurance against 1.Contract the non-payment ICIEC’s ROLE of the L/C • Policy Holder: KuveytTurk Partcipation Bank • Policy: Documentary Credit Insurance Policy Government (DCIP) of • KuveytTurk Participation Bank confirmed the L/C amounting to USD 14 million under Uzbekistan ICIEC’s Documentary Credit Insurance Policy (DCIP). 2.L/C Request DEVELOPMENTAL IMPACT: • Help Kinza increase their exports and 3.L/C expand their business in member İssuance countries. • Help KuveytTurk enhance their credit limits

12 Foreign Direct Investments (FDI) and Financings

13 Turkish Steel Factory, Algeria

Turkey DETAILS: • Project Enterprise: Tosyali Iron & Steel Insurance Industry • Investor: Tosyali Group • Total Investment Amount: USD 1.3 Billion • Status: Underway

ICIEC’S ROLE: • Policy: Equity Investment Insurance Policy • Policy holder: Tosyali Group • Amount of Policy: USD 450 million • Percentage of cover: %90 • Tenor: 5 years

Tosyali Iron & Steel Industry DEVELOPMENTAL IMPACT: • Help Algeria improve the balance of payments by substituting rebar imports. • Job creation for 1,400 people during construction. • Increase in export volume of Algeria

14 Energy Conversion Project, Lebanon

Karpowership.Co. Insurance PROJECT: Ltd • Project: Powership • Project Enterprise: Karpowership Co. Ltd • Investor: Karadeniz Holding • Employer: Electricite du Liban • Contract: Supply of electricity ECW • Total Investment Amount: USD 225 Contract million

ICIEC’S ROLE: Powerships • Policy: Equity Investment Insurance covering Expropriation • Policy holder: Karadeniz Holding, Turkey • Amount of Policy: USD 50 million • Percentage of Cover: 90% • Tenor: 5 years HFO (370 MW) DEVELOPMENTAL IMPACT: • 370 MW of energy supply to meet the energy need of Lebanon • Job creation

15 Foreign Direct Investments (FDI) and Financings

16 Blaise Diagne International Airport, Senegal

PROJECT: Insurance • Project Name: Blaise Diagne International Airport Project, Senegal • Employer: The Government of Senegal • EPC Contractor: Limak-Summa Consortium, Financing Facility Turkey • Contract Amount: EUR 575 million • Status: opened in December 2017

ICIEC’S ROLE: • Policy holder: IDC, South Africa 100% ownership • Policy: Financing Facility Insurance Policy covering Expropriation, War & Civil Disturbance, Breach of Contract risks • Amount of Policy: EUR 50 million • Percentage of cover: %95 • Tenor: 15 years

EPC DEVELOPMENTAL IMPACT: • In the first phase, the airport is expected to host 3 million passengers and in 2023 and 2035, 5 million and 10 million respectively. • AIBD has a 5,600 square meter cargo area with 50,000 tons capacity to support the export of goods from Senegal.

17 Doala Japoma Sports Complex Project, Cameroon

PROJECT: Project Finance • Project Name: Doala Japoma Sports Complex USD 190.4 million Project, Cameroon • Sponsor: The Government of Cameroon • EPC Contractor: Yenigun Insaat, Turkey • Contract Amount: USD 232 million • Borrower: MINEPAT (State Owned Entity), Insurance EPC Cameroon USD 190.4 Contract • Status: to be in the 1st Quarter 2019 million ICIEC’S ROLE: • Policy: Non- Honouring of Sovereign Financial Obligations (NHSO) • Policy holder: Turk Eximbank • Amount of Policy: USD 190.4 million • Percentage of cover: %95 • Tenor: 12 years

DEVELOPMENTAL IMPACT: • Yenigun Insaat has been awarded to build a sports complex, which will host the 2019 Africa Cup of Nations. The project, financed by Turk Eximbank, will be Cameroon’s largest sports complex. • The project has created many jobs for Cameroonian citizens, as 30% of labor is employed locally. • The project will contribute to the attraction of tourists to attend the African Cup 2019. • Technology and know-how transfer • Promotion of Turkey’s export of Goods and Services 18 Hotel, Expo Center and Sports Complex Project, Senegal

PROJECT: • Project Name: Cicad Business Hotel, Cicad Exhibition Project Finance Center and Diamniadio Sports Arena, Senegal EUR 134 million Government • Employer: SOGIP. SA, Dakar, Senegal (State owned Representative in enterprise) Public Infrastructure • EPC Contractor: Summa Insaat, Turkey • Contract Amount: EUR 165 million Insurance • Borrower: Ministry of Economy and Finance, EUR 134 Senegal million • Status: Opened

ICIEC’S ROLE: EPC • Policy: Non- Honouring of Sovereign Financial Contract Obligations (NHSO) • Policy holder: Turk Eximbank • Amount of Policy: EUR 134 million • Percentage of cover: %95 • Tenor: 11 years

DEVELOPMENTAL IMPACT The Project contributes to the; • promotion of Turkey’s export of goods and services • development of Senegal’s Economic Infrastructure in line with its development efforts • promotion of business and expo-tourism sector, • development of the sports infrastructure in favor of the youth (around 67% of population). • job creation during, and after the construction period. (700 workers have been employed). 19 Dakar Market of National Interest and Truck Station Project, Senegal

PROJECT: • Project Name: Dakar Market of National Interest and Project Finance Truck Station Project, Senegal USD 78 million Government • Employer: SOGIP. SA, Dakar, Senegal (State owned Representative in enterprise) Public Infrastructure • EPC Contractor: DM Yatirim ve Insaat San.,Turkey • Contract Amount: USD 105,000,000 • Borrower: Ministry of Economy and Finance, Senegal Insurance st USD 78 • Status: to be opened in the 1 Quarter 2019 million ICIEC’S ROLE: • Policy: Non- Honouring of Sovereign Financial EPC Obligations (NHSO) Contract • Policy holder: Turk Eximbank • Amount of Policy: USD 78 million • Percentage of cover: %95 • Tenor: 11 years

DEVELOPMENTAL IMPACT • Deconcentrate the capital city suffering from over population and limited availability of land. • Development of Senegal’s Economic Infrastructure in line with its development efforts. • Development of the agricultural sector. • Connects producers of agricultural products and livestock farming to the distribution markets. • Job creation during, and after the construction period. App. 200 workers have been employed.

20 Financing of Projects in Turkey

21 -Izmir Motorway Project, Turkey

PROJECT: • Project Name: Gebze-İzmir Motorway (including the Izmit Bay crossing bridge and access roads),Turkey • Employer: Ministry of Transport, Maritime Affairs, Guarantor and Communications, General Directorate of (Debt Assumption) Highways, Turkey • Guarantee: Turkish Treasury’s Debt Assumption OTOYOL A.Ş. • Contract Amount: USD 555 million USD 75 million • Borrower: Otoyol A.S, Turkey ICIEC covered loan • Status: opened on 1 July 2016

Insurance Implementation Contract ICIEC’S ROLE: USD 75 • Policy: Non-Honouring of Sovereign Financial million Obligations (NHSO) • Policy holder: Deutsche Bank AG London Branch • Amount of Policy: USD 75 million • Percentage of cover: %95 • Tenor: 5 years

General Directorate of Highways (KGM) DEVELOPMENTAL IMPACT: • Reduction in transit time, carried 12.5 million vehicles between 01.07.2016-30.06.2018 • Fuel savings, reduced noise pollution, and reduced environmental pollution • Encourage development of industrial capacity around the main highways of the project • Employed 8,000 workers.

22 Health sector PPP portfolio, Konya

PROJECT: • Project Name: Konya Karatay Integrated Availability EUR 29.5 million Health Campus PPP Project Payments ICIEC covered loan • Sponsor: YDA Insaat Sanayi ve Ticaret A.S. • Borrower: SPV (ATM Saglik Konya Yatirim ve Isletme A.S) • Total Investment Amount: EUR 335 millionj ATM Saglik Konya • Guarantee: Ministry of Health’s payment Insurance guarantee Yatirim ve Isletme EUR 29.5 mln • Capacity: 838 beds (to be increased to 1250 A.S. beds • Status: to be opened in 2019

Construction & ICIEC’S ROLE: FM Agreement • Policy: Non Honoring of Sovereign Financial Obligation Coverage • Policy holder: Siemens Bank AG • Amount of Policy: EUR 29.5 million • Percentage of cover: %95 Konya Karatay Integrated • Tenor: 18 years Health Campus DEVELOPMENTAL IMPACT: • Access to higher quality medical services • Employs 2,500 workers • Will serve 2.5 million patients yearly

23 Health sector PPP portfolio, Adana

PROJECT: • Project Name: Adana PPP Hospital Project • Sponsor: Ronesans Holding Availability Financing • Borrower: SPV (ADN PPP Saglik Yatirim ve Payments Facility EUR Isletme A.S) 47 million • Total Investment Amount: EUR 540,000,000 • Guarantee: Ministry of Health’s availability payments ADN PPP Saglik • Capacity: 1550 beds • Status: Opened (18 September 2017) Yatirim ve Isletme Insurance EUR 47 A.S ICIEC’S ROLE: million • Policy: Non Honoring of Sovereign Financial Obligation Coverage • Policy holder: Sumitomo Mitsui Banking Construction & Corporation (SMBC) FM Agreement • Amount of Policy: EUR 47 million • Percentage of cover: %95 • Tenor: 15 years Adana City Hospital DEVELOPMENTAL IMPACT: • Access to higher quality medical services • Employed 3,000 workers during construction • Employs 5000 doctors,nurses, health officer and administrative people. • Served 2.2 million patients within 1 year

24 Health sector PPP portfolio, Yozgat

PROJECT: • Project Name: Yozgat PPP Hospital Project • Sponsor: Ronesans Holding Financing • Borrower: SPV (YZG PPP Saglik Yatirim ve Availability Isletme A.S) Payments Facility EUR 35 million • Total Investment Amount: EUR 139 million • Guarantee: Ministry of Health’s availability payments • Capacity: 475 beds Yozgat PPP Saglik • Status: Opened (04 April 2017) Yatirim Ve Isletme Insurance A.S EUR 35 ICIEC’S ROLE: million • Policy: Non Honoring of Sovereign Financial Obligation Coverage • Policy holder: Sumitomo Mitsui Banking Construction & Corporation (SMBC) FM Agreement • Amount of Policy: EUR 35 million • Percentage of cover: %95 • Tenor: 18 years

Yozgat City Hospital DEVELOPMENTAL IMPACT: • Access to higher quality medical services • Employed 500 workers during construction • Employs 1524 doctors,nurses, health officer and administrative people. • Served 800 thousand patients within 1 year

25 Health sector PPP portfolio, Bursa

PROJECT: • Project Name: Bursa PPP Hospital Project • Sponsor: Ronesans Holding • Borrower: SPV (BRS PPP Saglik Yatirim ve Isletme A.S) Availability Financing • Total Investment Amount: EUR 513,000,000 Payments Facility EUR • Guarantee: Ministry of Health’s availability 40 million payments • Capacity: 1355 beds • Status: to be opened in 2019

BRS PPP Saglik ICIEC’S ROLE: Yatirim ve Isletme • Policy: Non Honoring of Sovereign Financial Insurance Obligation A.S EUR 40 • Policy holder: Sumitomo Mitsui Banking million Corporation (SMBC) • Amount of Policy: EUR 40 million • Percentage of cover: %95 • Tenor: 18 years Construction & FM Agreement DEVELOPMENTAL IMPACT: • Access to higher quality medical services • Employed 3,000 workers during construction • 4000 doctors,nurses, health officer and administrative people are expected to be Bursa City Hospital employed during operation period.

26 Line of Financing Facility For Turk Eximbank, Turkey

Financing PROJECT: EUR 107.4 million • Project Name: Line of finance to Turk Eximbank to support SME financing Insurance • Borrower: Turk Eximbank EUR 107.4 • Loan Amount: EUR 107.4 million million ICIEC’S ROLE: • Policy: Non Honoring of Sovereign Financial Obligation • Tenor: 10 years. • Percentage of cover: %95

DEVELOPMENTAL IMPACT: • Support Turk Eximbank in its role and strategy in promoting exports of SME sector.

27 Club Loan Facility For Turk Eximbank, Turkey

PROJECT: • Project Name: Line of finance to Turk Financing Eximbank to support SME financing EUR 180 million • Borrower: Turk Eximbank • Loan Amount: EUR 180 million Insurance EUR 180 ICIEC’S ROLE: million • Policy: Non Honoring of Sovereign Financial Obligation • Tenor: 5 years. • Percentage of cover: %95

DEVELOPMENTAL IMPACT: • Support Turk Eximbank in its role and strategy in promoting exports of SME sector.

28 Uskudar-Umraniye-Cekmekoy Metro Project, Turkey

Financing PROJECT: Facility EUR • Project Name: Uskudar-Umraniye-Cekmekoy 113 million Metro Project-3rd extension • Investment Type: Project Financing Facility • Sponsor: Dogus Insaat • Borrower: Metropolitan Municipality Progress Insurance • Total Amount of Investment: EUR 113 Payments EUR 113 million million • Status: Opened

ICIEC’S ROLE: • Policy: Non Honoring of Sovereign Financial Obligation • Policy holder: Deutsche Bank AG London Branch USKUDAR-UMRANIYE-CEKMEKOY METRO LINE • Amount of Policy: EUR 113 million • Percentage of cover: %95 • Tenor: 5 years

DEVELOPMENTAL IMPACT: • Development of public transport in Istanbul • First driverless subway line of Turkey. • Passenger capacity of 64k in one direction • Employed 139 permanent workers during construction

29 Malkara - Çanakkale Motorway Project (including 1915 Çanakkale Bridge),Turkey

PROJECT: • Project Name: Malkara - Çanakkale Motorway Project (including 1915 Çanakkale Bridge) • Employer: Ministry of Transport, Maritime Affairs, and Communications, General Directorate of Highways Guarantor (Debt Assumption) • Guarantee: Turkish Treasury’s Debt Assumption • Contract Amount: EUR 2.3 billion ÇANAKKALE OTOYOL VE KÖPRÜSÜ İNŞAAT YATIRIM VE İŞLETME A.Ş. • Borrower: Canakkale Otoyol ve Koprusu Yatirim ve IsletmeA.S EUR 100 million • Status: to be opened in 2023 ICIEC covered loan

Insurance Implementation ICIEC’S ROLE: EUR 100 Contract • Policy: Non Honoring of Sovereign Financial million Obligation • Policy holder: ING Bank • Amount of Policy: EUR 100 million • Percentage of cover: %95 • Tenor: 15 years

General DEVELOPMENTAL IMPACT: Directorate of Highways (KGM) From construction to the end of concession period the project; • expected to generate €14.5 billion total economic activity • will employ 285,000 workers during construction • expected to generate additional €2.5 billion tax revenues

30 THANK YOU

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