Page 32 - ICD AR21 EN

30 ICD ANNUAL REPORT 2021
OUR USD 250 MILLION FINANCING COMMITMENT
How we’ve supported our financial
sector clients and communities during
the pandemic
At the onset of the COVID-19 outbreak, ICD took swift
and bold action in engaging with member countries
to ensure the critical needs of the private sector were being effectively met following the emergency response announced by the IsDB Group, which was envisaged
to collectively deploy nearly USD 2.3 billion. ICD swiftly earmarked USD 250 million of emergency funding to help mainly in the form of short- to medium-term financing instruments. The funding aims to help existing and new clients who can demonstrate a clear impact on their business by the pandemic, especially those in the agri-food, energy and other vulnerable economic sectors. Of the total funding, USD 200 million was allocated to Line of Finance for financial institutions and private sector actors affected by the COVID-19 pandemic. Meanwhile, USD 50 million was allocated to equity investments
in Islamic Financial Institutions (IFIs) and selective industries broadly related to healthcare and food.
2021 UPDATE
As at end of 2021, under the COVID-19 Package, ICD received a total of 25 formal financing requests amounting to more than USD 300 million from over 20 member countries.
ICD has given priority to existing clients with a good repayment record, state-owned financial institutions, and national and regional development financial institutions when selecting clients.
LINE OF FINANCE
By the end of 2021, twelve line of finance transactions totalling USD 169.2 million were approved under the package, with USD 72.9 million being disbursed as shown in the tables, right.
EQUITIES
By the end of 2021, two equity transactions totalling USD 19.2 million were approved, with USD 3.4 million disbursed.
USD 200 million
was allocated to Line of Finance for
financial institutions and private sector actors affected by the COVID-19 pandemic.