Energy: The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) Signs Landmark Memorandum of Understanding (MoU) with Abu Dhabi’s Masdar to promote the Origination, Financing and Execution of Renewable Energy Projects

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), the insurance arm of the Islamic Development Bank (IsDB) Group, signed, 19 January, a wide-ranging Memorandum of Understanding (MoU) with Abu Dhabi Future Energy Company (Masdar) which is set to give a major boost to the transition to renewable and clean energy in markets of mutual interest to both entities.

Under the MoU, the two parties agree to co-operate “in promoting joint action in the origination, financing, and execution of renewable energy projects through ICIEC’s insurance support in its member states.”