Mr. Bert Bruning, Managing Director of Atradius Dutch State Business N.V. (Atradius) - one of the leading export credit agencies in the world - paid a business visit to the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) in Jeddah, Saudi Arabia on April 13, 2015.
During the visit, the two institutions exchanged ideas on enhancing the cooperation between them in order to support business between the Netherlands and ICIEC's member countries. Atradius and ICIEC have covered joint projects in the last two years for over US$2 billion, where ICIEC has reinsured Atradius for over US$500 million. In particular, infrastructure-related projects in Saudi Arabia and Egypt with high developmental impact have benefited from the ICIEC-Atradius partnership. The two institutions commit sustained cooperation for the benefit of projects in other member countries in the near future.
Bruning said: "Atradius Dutch State Business is very pleased to cooperate with its strategic partner ICIEC to support projects that Dutch companies undertake in ICIEC's member countries. The broad knowledge and experience of ICIEC is an important and valuable element of our ability to support such large transactions."
Mr. Khemais el-Gazzah, Chief Operating Officer of ICIEC, said: "ICIEC's strategic partnership with Atradius is in line with its strategy to cooperate with leading export credit agencies in supporting projects in ICIEC's member countries. Atradius is a strategic partner who has a long experience and a great impact in the credit insurance industry. I feel proud of such cooperation and I look forward to more cooperation in favour of our member countries."
About ICIEC
With Aa3 rating by Moody's, ICIEC provides investment and export credit insurance to facilitate cross border investments and to encourage trade transactions in its 43 member countries in the Middle East, Africa and Asia. ICIEC provides these credit and country risk mitigation instruments in line with the Shariah.
Contact:
ICIEC
Jamel eddine Naga
Promotion & International Relations Unit
E-mail : jnaga@isdb.org
© Press Release 2015
