Page 8 - ICD-AR22-English

Message from our Acting Chief Executive Officer
In the name of Allah, the Beneficent, the Merciful
I hereby present ICD’s Annual Report for the year 2022.
2022 was an eventful year to say the least. While leading the path towards recovery, we continued
to support our stakeholders and help them cope
with yet another year of uncertainty stemming from the global pandemic in addition to ongoing issues such as tightening financial conditions, skyrocketing inflation as well as conflicts that are geopolitical in nature. We continued to innovate and, in the process, re-developed value drivers to best cater to the critical needs of our member countries and to help smaller businesses to advance and grow. Over the past year, we took the opportunity to realign ICD’s activities with its mandate and reshape our portfolio by focusing on core areas of growth across our regions of operations while responding to various market trends.
Our efforts have paid off and yielded positive results. Operationally, ICD achieved its highest approval and disbursements rates to date, with USD 525.83 million worth of projects approved and disbursements in the year totalling USD 310.53 million. This corresponds with ICD’s commitment of funding meaningful private sector projects and businesses in economic sectors that help address key challenges such as food security and energy access. At the same time, our targeted approach also helped build globally competitive industrial sectors and create better jobs. ICD has delivered USD 7.61 billion in cumulative approvals
and more than USD 4.07 billion in disbursements since inception, all of which is serving our mission to support private sector development. Moving forward, we are ready to offer support the best way we can.
6 ICD ANNUAL REPORT 2022