Within the framework of the SESRIC project titled “Increasing the Utilization of Innovative Financing Tools to Maintain Transport Infrastructure and the Services of TSPs in the OIC Member Countries”, which is funded by the Standing Committee for Economic and Commercial Cooperation of the Organization of the Islamic Cooperation (COMCEC) under the 10th Call for Project Proposals of COMCEC Project Funding, the Centre, in collaboration with the Ministry of Transport and Infrastructure of the Republic of Türkiye, organised a Workshop on “Increasing the Utilization of Innovative Financing Tools to Maintain the Transport Infrastructure and the Services of TSPs” on 1-3 November 2023 in Istanbul, Republic of Türkiye.

The workshop brought together participants from the Ministries of Transport and other relevant national transportation authorities of 19 OIC Member Countries who are responsible for developing and implementing transport financing policies to learn, share and exchange knowledge and best practices as well as explore cooperation opportunities in transport financing to maintain transport infrastructure and the services of transport service providers, particularly in the post-pandemic recovery period. As a consecutive and complementary activity of the workshop, a field visit to two successful project sites, namely the Eurasia Tunnel and Istanbul İGA Airport, was conducted to facilitate hands-on learning and showcase innovative solutions and approaches in the field.

The workshop commenced with opening remarks delivered by representatives of SESRIC, the COMCEC Coordination Office, and project partners.

Mr. Fadi Abdullah FARASIN, Assistant Director General of SESRIC, addressed the gathering, thanking the COMCEC Coordination Office for its support of this project, as well as the Ministry of Transport and Infrastructure of the Republic of Türkiye for their technical support and facilitation in the implementation of the activity.

He underlined the significant potential of innovative financing tools to transform transport infrastructure and services in OIC member countries, acknowledging the challenges and disparities highlighted in the recent statistical data and studies.

He therefore stressed the necessity of collaborative efforts, capacity building, and knowledge sharing as key drivers to unlocking the full potential of transport sectors across the OIC region, fostering sustainable development and economic growth.

The opening session continued with remarks delivered by the representatives of the project partners who expressed their gratitude for this valuable partnership and shared brief insights into the efforts of their esteemed institutions concerning the implementation of the project. In addition, they indicated their willingness to strengthen joint efforts with SESRIC and their counterparts in other OIC member countries in carrying out similar activities that could help serve as a response to the requirements of the OIC region.

The project titled “Increasing the Utilization of Innovative Financing Tools to Maintain Transport Infrastructure and the Services of TSPs in the OIC Member Countries” has been shortlisted under COMCEC’s 10th call for project proposals for financing projects in the cooperation area of transport and communications. The project consists of a virtual training course on “Increasing the Utilization of Innovative Financing Tools to Maintain the Transport Infrastructure and the Services of TSPs” followed by an on-site workshop and a field visit. The objective of the project is to enhance the capacities of the staff of the Ministries of Transport and other relevant transport authorities of the OIC member countries with a view to facilitating access to various financial tools for Transport Service Providers (TSPs) and mitigating the impact of the COVID-19 pandemic on the provision of transportation.

The COMCEC Coordination Office introduced in 2013 the COMCEC Project Funding (CPF), a financing mechanism that funds projects submitted by the Member Countries and relevant OIC Institutions to realise the strategic objectives and outcomes of the COMCEC Strategy. The funding is provided in the form of a grant through the Development and Investment Bank of Türkiye, which is one of the main bodies in the COMCEC Project Funding scheme. Since the initiation of the CPF, SESRIC has implemented seven projects under various cooperation areas and in accordance with sectoral themes determined by the CCO. For more details about SESRIC projects funded by the COMCEC, please visit: https://www.sesric.org/tcd-activities-projects-funded.php

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