Within the framework of the 10^th Call for Project Proposals of COMCEC Project Funding, the COMCEC Coordination Office (CCO) has completed the evaluation process and announced the Final List of successful projects that will receive COMCEC Project Funding. Three projects prepared and submitted by SESRIC under three different cooperation areas of COMCEC Strategy were found eligible to be funded in the 2023 implementation period, namely:

1. Unleashing the Potential of Islamic Finance in Supporting MSMEs in the OIC Member Countries
2. Promoting Digital Technologies for an Integrated and Efficient Social Protection Systems in the OIC Member Countries
3. Increasing the Utilization of Innovative Financing Tools to Maintain Transport Infrastructure and the Services of TSPs in the OIC Member Countries

These projects were designed in collaboration with relevant national institutions in the Member Countries with a view to strengthening the human resources and institutional capacities in the cooperation areas of finance, poverty alleviation, and transport and communication in the OIC Member Countries.

In the cooperation area of financial cooperation, the Project titled “Unleashing the Potential of Islamic Finance in Supporting MSMEs in the OIC Member Countries” will be implemented in partnership with the Central Bank of the Republic of Türkiye (TCMB), Bank Indonesia (BI), Bank Negara Malaysia (BNM), and Saudi Central Bank (SAMA) for the benefit of Central Banks and Monetary Authorities from 40 OIC Member Countries. The Project, which consists of a virtual training course and on-site workshop, aims to introduce innovative and sustainable solutions for Islamic Finance and ISF products to enhance the resilience of MSMEs in the OIC Member Countries in the face of possible shocks.

In the cooperation area of poverty alleviation, the Project titled “Promoting Digital Technologies for an Integrated and Efficient Social Protection Systems in the OIC Member Countries” will be implemented in partnership with the Malaysian Social Security Organisation (SOCSO) for the benefit of relevant departments of the Ministries and national institutions in charge of social protection policies and programmes and data management/IT systems in 15 OIC Member Countries. The Project, which consists of two virtual training courses and an on-site workshop, aims at enhancing human resources and institutional capacities of the national institutions of social protection in effectively responding to the needs of the poor and vulnerable people in the OIC countries.

In the cooperation area of transport and communication, the Project titled “Increasing the Utilization of Innovative Financing Tools to Maintain Transport Infrastructure and the Services of TSPs in the OIC Member Countries” will be implemented, in partnership with the Ministry of Transport and Infrastructure of the Republic of Türkiye, for the benefit of Ministries of Transport and other relevant national transportation authorities in 20 OIC Member Countries. The Project, which consists of an online training course, an on-site workshop, and a field visit, aims at increasing the utilization of innovative financing tools with a view to supporting the financial conditions of TSPs and maintaining transport infrastructure in the OIC Member Countries.

The COMCEC Coordination Office (CCO) introduced in 2013 the COMCEC Project Funding (CPF), a financing mechanism that funds projects submitted by the Member Countries and relevant OIC Institutions to realize 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 ten 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