The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) (https://ICIEC.IsDB.org) has backed a EUR 100 million financing facility for the Export Credit Bank of Türkiye (Türk Eximbank), strengthening access to export financing for small and medium-sized enterprises (SMEs).
ING Bank Germany and SMBC Bank International Plc of the United Kingdom are providing the financing facility. The agreement was signed during the Islamic Development Bank (IsDB) Group Annual Meetings 2026 in Baku, Azerbaijan.
As part of the transaction, ICIEC is providing Non-Honoring of Financial Obligations for State-Owned Enterprises (NHFO-SOE) insurance coverage with a 10-year tenor. As a result, Türk Eximbank can secure long-term funding and expand affordable export financing for Turkish businesses.
Supporting SME Export Growth
SMEs remain a key driver of Türkiye’s economy and export sector. However, many smaller businesses still face difficulties accessing long-term and affordable financing.
The new facility aims to address this challenge. Through the funding, Türk Eximbank can support more companies seeking to expand internationally. In turn, businesses can increase production capacity, enter new markets and strengthen their competitiveness.
Furthermore, the initiative supports Türkiye’s broader export growth strategy. The country continues to prioritise SME development as a key pillar of economic growth and international trade.
Improving Access to Export Finance
ICIEC’s insurance coverage helps reduce risk for participating financial institutions. Consequently, lenders can provide longer-term financing solutions that support business expansion.
In addition, the facility allows Türk Eximbank to broaden its export financing programmes. This gives SMEs greater access to capital needed for growth, productivity improvements and market expansion.
Multilateral Cooperation Supporting Businesses
Commenting on the agreement, Dr. Khalid Khalafalla, Chief Executive Officer of ICIEC, emphasised the important role SMEs play in economic development.
“SMEs are central to Türkiye’s export ambitions and long-term economic resilience,” he said.
He added that the facility will help Türk Eximbank expand access to competitive financing for businesses seeking opportunities beyond domestic markets.
Moreover, he noted that the agreement demonstrates the value of multilateral cooperation in supporting trade, business growth and sustainable development.
Strengthening Türkiye’s Export Ecosystem
The financing facility highlights the growing role of multilateral institutions in supporting SME development. By combining international financing with risk mitigation solutions, the arrangement creates a stronger framework for business growth.
As a result, Turkish SMEs will gain better access to export-related financing. This can help businesses scale operations, improve competitiveness and contribute to job creation.
Looking ahead, access to export finance will remain critical for SMEs navigating an increasingly competitive global market. Therefore, initiatives such as this play an important role in supporting long-term economic growth and trade expansion.
