Page 8 - ICD AR21 EN

MESSAGE FROM
THE CHIEF EXECUTIVE
In the name of Allah, the Beneficent, the Merciful
I hereby present ICD’s Annual Report for the year 2021.
With a new year on the horizon, we are reflecting on the challenges, opportunities, and progress in the member countries we supported during 2021. From extending much needed funding to providing technical assistance to support troubled businesses, our priorities have been to help people recover and build resilience in the second year of a global health crisis.
Despite the challenges faced, we forged ahead with delivering tailored private sector solutions. In 2021, total project approvals stood at USD 243.60 million, with term finance and line of finance significantly contributing a 50.08% and 43.51% share respectively with 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. Meanwhile, equity projects accounted for the remaining 6.40% of total approvals. This brings cumulative approvals since inception to USD 7.08 billion. We also disbursed USD 208.71 million, a healthy improvement from last year’s USD 135.48 million, with the largest allocation to high-impact sectors such as finance (62.25%), transportation (19.17%) energy (13.80%) and industry and mining (4.79%). Overall, the disbursement- to-approval ratio stood at 85.68%, almost double of the previous year.
6 ICD ANNUAL REPORT 2021