Jeddah: The Islamic Corporation for the Development of the Private Sector (ICD) and Golden Global Investment Bank (the Bank) have entered into a landmark agreement to bolster economic growth in Türkiye. This new USD 20 million Commodity Murabaha Facility is designed to support private sector projects, with a special focus on small and medium-sized enterprises (SMEs) and corporates operating in the agriculture, ship construction and leasing sectors in the Republic of Türkiye.
This strategic partnership highlights ICD's dedication to fostering private sector development within its member countries. The facility provided by ICD will enable the Bank to fund a range of private sector projects, particularly in the agriculture, ship construction and operational leasing sectors, which will ultimately contribute to the economic development in Türkiye.
Key Highlights of the Agreement:
- Funding Amount: USD 20 Million
- Target Sector: Private sector projects, especially Corporates and SMEs
- Objective: Enhance the SME and Corporates landscape in Türkiye by providing essential resources for business growth and development
- Strategic Alignment: Supports ICD’s Private Sector Channel Development Strategy
The agreement underscores the critical role of private sector financing in economic development. By facilitating access to financial resources, the initiative will help bridge funding gaps for SMEs and corporate clients, driving innovation and fostering a more robust and diverse economy.
