The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a member of the Islamic Development Bank (IsDB) Group, has welcomed the accession of the Republic of Azerbaijan as its 49th member state. ICIEC insurance solutions catalyze strategic projects and improve its member states' investment attractiveness. ICIEC will work closely with the Government of Azerbaijan to support economic and social infrastructure projects in trade, agriculture, energy, water, sanitation, and urban services and with the private sector to improve access to finance. Oussama Kaissi, CEO of ICIEC, welcomed Azerbaijan, stating: "The Republic of Azerbaijan's membership opens the door for its private and public sectors to benefit from risk mitigation and credit enhancement solutions offered by ICIEC to expand their exports and promote foreign direct investment inflow. Similarly, it allows exporters, banks and investors from other member and non-member states to cover political and commercial risks related to their operations in Azerbaijan."
