Tokyo: The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) signed an amended Memorandum of Understanding (MoU) with Nippon Export and Investment Insurance (NEXI) yesterday in Tokyo. The signing took place during a meeting between ICIEC CEO Dr. Khaled Yousef Khalafallah and NEXI Chairman and CEO Atsuo Kuroda. According to Saudi Press Agency, the amended MoU seeks to expand cooperation between the two sides, with a focus on innovative financing mechanisms such as blended financing. It also aims to strengthen coordination in project development and risk mitigation by leveraging ICIEC's regional expertise and its mandate to support investment flows to member countries. The revised agreement coincided with the Ninth Tokyo International Conference on African Development (TICAD 9) in Yokohama, reflecting the two institutions' joint commitment to advancing sustainable development and investment in Africa and across ICIEC's member states.
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