ICIEC And Japan's NEXI Sign MoU To Enhance Export Credit Insurance Cooperation

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and Nippon Export and Investment Insurance (NEXI) of Japan have fortified their partnership by signing an updated Memorandum of Understanding (MoU) on August 18, 2025, during a bilateral meeting in Tokyo.

The signing, led by ICIEC CEO Dr. Khalid Khalafalla and NEXI Chairman and CEO Atsuo Kuroda, coincided with the Ninth Tokyo International Conference on African Development in Yokohama, underscoring their commitment to sustainable development.

Originally established in 2019 at TICAD 7, the ICIEC-NEXI collaboration focuses on addressing Africa’s infrastructure needs and facilitating Japanese business involvement. Key achievements include a reinsurance framework, a dedicated Japan Desk at ICIEC for streamlined engagement, and support for projects like the Gas Power Plant Construction in Turkmenistan.

The updated MoU expands cooperation, emphasizing innovative financial solutions like blended finance and Illumination and risk mitigation, leveraging ICIEC’s regional expertise and NEXI’s resources to boost investment in ICIEC’s 50 member countries.

Dr. Khalafalla hailed the agreement as a milestone, stating, “This renewed MoU with NEXI positions us to support transformative projects, mobilize financing, and foster inclusive growth across our member states.” The partnership aims to enhance economic development and community well-being by combining expertise and resources.

This strengthened alliance promises significant advancements in infrastructure, investment, and sustainable progress in Africa and beyond. By focusing on innovative financing and project development, ICIEC and NEXI are poised to create new opportunities for growth and prosperity, marking a pivotal step toward global sustainable development.