Page 19 - ICD AR21 EN

2.2 2021 IN REVIEW
With its significant role in driving inclusive and dynamic growth, private sector development has been the primary focus of ICD since inception.
2021 was a critical year in terms of finalizing and implementing ICD’s new operating model and organizational structure, which laid the foundation
for transforming ICD and the way it fulfils its private sector mandate. Total approvals for the year stood at USD 243.60 million (USD 306.60 million in the previous year). As far as ICD’s core business operations are concerned, term finance and line of finance (LOF) made up the bulk of ICD approvals with a 50.08% and 43.51% share respectively and a combined total of USD 228.00 million. This is in line with our commitment to channel resources to better serve end-beneficiaries, primarily SMEs and high-impact industries. Meanwhile, equity projects accounted for the remaining 6.40% of total approvals. This brings cumulative approvals since inception to USD 7.08 billion.
In terms of sectoral allocation, almost half of the new project approvals for the year were earmarked for the financial sector (49.92%), while non-financial sector investments focused on high-impact sectors, primarily transportation (20.53%), industry and mining (18.47%) and health infrastructure (11.08%). In terms of regional distribution, 31.61% of project approvals were allocated to the Middle East and North Africa (MENA) region, followed by 30.79% to Asia, 29.39% to sub-Saharan Africa, 6.16% to Europe and Central Asia and the remaining 2.05% to global (multi-country) projects.
FIGURE 2.1: APPROVALS BY PRODUCT: 2021 LINE OF FINANCE
43.51%
ICD IN NUMBERS
INSTITUTIONAL EQUITY
6.40%
FIGURE 2.2: APPROVALS BY SECTOR: 2021
TERM FINANCE
50.08%
FINANCE
49.92%
HEALTH & OTHER SOCIAL SERVICES 11.08%
ASIA
30.79%
GLOBAL
2.05%
SUB-SAHARAN AFRICA 29.39%
INDUSTRY & MINING 18.47%
TRANSPORTATION
20.53%
FIGURE 2.3: APPROVALS BY REGION: 2021
MIDDLE EAST AND NORTH AFRICA 31.61%
EUROPE AND CENTRAL ASIA 6.16%
STRONGER TOGETHER 17