In creating new channels of operations in member
countries, ICD approved USD 63.4 million for Line of
Financing (LOF), while its disbursement for financial
institutions totaled USD 96.2 million in the form of LOF
and USD 22.7 million in the form of equity in 2019. On the
real sector side, USD 65.0 million of financing was
approved with USD 100.9 million disbursed.
ICD also continued to serve its member countries by
offering comprehensive advisory services. Under the
Islamic Finance Institutions (IFI) Program, ICD signed
advisory agreements to provide technical assistance to two
private banks and four state-owned banks, in Uzbekistan.
The BRAVE program also continued to gain ground, enhanc-
ing the resilience of Yemen’s private sector. To date, a total
of 620 firms have been provided with business continuity
training, 348 firms have benefited from a matching-grants
scheme, and 15,000 jobs have been sustained with an
additional 1,541 new jobs created under the BRAVE
Program. In a bid to increase outreach, and the inclusion of
women-owned and led MSMEs, the BRAVE Women
Program was introduced last year in two out of three
targeted countries, with commendable results to date.
The sectoral distribution of ICD’s approvals was consistent
with its strategic priorities of moving towards the financial
and high-impact sectors. ICD approved approximately
USD 82.5 million of investments, or 56% of the financial
sector. Similarly, most of ICD’s new project approvals
within the corporate sector focused on high-impact
sectors such as energy.
In terms of regional distribution, 44% of ICD’s approvals in
2019 were allocated to Asia, 29% to Sub-Saharan Africa,
followed by Europe and Central Asia (14%) and MENA
(13%).
MENA
13.0%
Asia
44.0%
ECA
14.0%
SSA
29.0%
Institutional Equity 18.0%
Term Finance
27.0%
LOF
55.0%
Approvals and Disbursements: 2019
Approvals: By Product
Total approvals by product: 2019
Approvals: By Region
Total approvals by region: 2019
1000
900
800
700
600
500
400
300
200
100
0
2014
609
2015
631
2016
764
2017
936
2018
483
2019
148
$ Million
Approvals
600
500
400
300
200
100
0
2014
284
2015
292
2016
422
2017
299
2018
538
2019
220
$ Million
Disbursements
