ICIEC Backs Uganda Olympic Stadium Project with USD 65 Million Cover

22 Jun 2026 CW Team

The agreement was signed on the sidelines of the IsDB Group 2026 Annual Meetings held in Baku, Azerbaijan, from 16 to 19 June 2026. ICIEC provided support through a Specific Transaction Policy (STP) issued to Egypt-based SAMCO National Construction Company, covering a supplier credit facility.

The stadium project has a total contract value of approximately USD 130 million, with ICIEC providing insurance cover of USD 65 million. The policy offers 90 per cent coverage against the non-honouring of a Ministry of Finance guarantee issued by the Government of Uganda.

Located in Lira City, the Akii-Bua Olympic Stadium forms part of Uganda's broader efforts to strengthen sports infrastructure and enhance its capacity to host regional and international sporting events. The project is expected to support youth development, encourage greater community participation in sports and promote healthier lifestyles.

Beyond sports development, the project is anticipated to generate employment during the construction phase and create demand for local materials and services. Over the longer term, the stadium is expected to stimulate economic activity through increased tourism, sporting events and related commercial services, while contributing to urban development in Northern Uganda.

"This project demonstrates how well-structured risk mitigation can help deliver social infrastructure with lasting development value," said Khalid Khalafalla, Chief Executive Officer, ICIEC. "By supporting the Akii-Bua Olympic Stadium, ICIEC is contributing to a project that will serve communities, empower young people and create new opportunities for economic activity in Northern Uganda."

The transaction reflects ICIEC's continued focus on supporting infrastructure projects that contribute to socio-economic development across member countries.

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a member of the Islamic Development Bank Group, has extended insurance support for the construction of the Akii-Bua Olympic Stadium in Uganda.The agreement was signed on the sidelines of the IsDB Group 2026 Annual Meetings held in Baku, Azerbaijan, from 16 to 19 June 2026. ICIEC provided support through a Specific Transaction Policy (STP) issued to Egypt-based SAMCO National Construction Company, covering a supplier credit facility.The stadium project has a total contract value of approximately USD 130 million, with ICIEC providing insurance cover of USD 65 million. The policy offers 90 per cent coverage against the non-honouring of a Ministry of Finance guarantee issued by the Government of Uganda.Located in Lira City, the Akii-Bua Olympic Stadium forms part of Uganda's broader efforts to strengthen sports infrastructure and enhance its capacity to host regional and international sporting events. The project is expected to support youth development, encourage greater community participation in sports and promote healthier lifestyles.Beyond sports development, the project is anticipated to generate employment during the construction phase and create demand for local materials and services. Over the longer term, the stadium is expected to stimulate economic activity through increased tourism, sporting events and related commercial services, while contributing to urban development in Northern Uganda.This project demonstrates how well-structured risk mitigation can help deliver social infrastructure with lasting development value, said Khalid Khalafalla, Chief Executive Officer, ICIEC. By supporting the Akii-Bua Olympic Stadium, ICIEC is contributing to a project that will serve communities, empower young people and create new opportunities for economic activity in Northern Uganda.The transaction reflects ICIEC's continued focus on supporting infrastructure projects that contribute to socio-economic development across member countries.

Infrastructure Energy

22 Jun 2026

Repos Energy Showcases Autonomous Fuelling Solution at VivaTech

Repos Energy showcased its Autonomous Fuelling Solution at VivaTech Paris 2026, demonstrating an AI- and robotics-driven model for future fuel stations at the India Pavilion during Europe's largest technology and innovation summit.The Pune-based energy-tech company was among 25 Indian startups selected by the Department for Promotion of Industry and Internal Trade (DPIIT) under the 'Bharat Innovates' theme to represent the country at the event. This year's edition of VivaTech marked India's debut as the AI Country Partner, with the country hosting its largest-ever national pavilion at the summ..

Infrastructure Urban

22 Jun 2026

Axis Solutions Unveils Engineered Product For Industrial Use

Axis Solutions Limited (Axis Solutions) has announced a new product line designed and developed in India and engineered for industrial applications. The initiative reflects a strategic focus on domestic manufacturing and on delivering engineering solutions tailored to factory and process environments. The company emphasised integration of local design expertise with production capabilities to meet industrial reliability and serviceability requirements. It places emphasis on component traceability, long term reliability and on-field serviceability to reduce downtime for end users. The architect..

Real Estate

22 Jun 2026

B-Right RealEstate Wins Excellence In Integrated Property Solutions

B-Right RealEstate Limited has been conferred the Excellence in Integrated Property Solutions award at the Crafting Bharat Business Conclave and Awards 2026. The recognition reflects the company's commitment to integrated property development, project execution and redevelopment across Mumbai micro-markets. The company noted the award as a testament to stakeholder trust and its focus on sustainable urban transformation. The event brought together industry leaders and changemakers from across the country. The chairman said that fiscal year 2026 had been a landmark year with revenue up by 62 per..