GLOBAL: The UN Development Programme (UNDP) has signed a joint statement of intent with Islamic Corporation for the Development of the Private Sector (ICD) and Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) to introduce a blended finance structure leveraging credit insurance to catalyze private investment in climate-smart sectors. The partnership aims to unlock capital for green SMEs across the Arab states region, supporting areas including energy transition, climate resilience, sustainable water management and agriculture. Under the initiative, ICD will provide financing facilities to partner financial institutions while ICIEC will offer credit insurance and risk-sharing solutions to expand financing to green sectors, with UNDP facilitating linkages and coordinating resource mobilization efforts.
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