Page 15 - ETIHAD CREDIT INSURANCE PR REPORT - OCTOBER 2024

Press Release

On the sidelines of the Berne Union Annual General Meeting

ECI and MIGA sign agreement to boost cooperation in FDI

activities

<< Al Mazrouei: We are committed to expanding our strategic partnerships, believing in
the importance of concerted efforts in achieving the goals of the national economic vision

October 16, 2024: Etihad Credit Insurance (ECI), the UAE Federal export credit company, and
the Multilateral Investment Guarantee Agency (MIGA), an institution of the World Bank Group,
signed an agreement to expand cooperation and coordination between both parties in driving
foreign direct investments (FDI), along with co-insurance and reinsurance activities. The signing
happened on the sidelines of the Berne Union Annual General, which commenced October 15 in
Hamburg, Germany.

By leveraging distinct records and long-standing experiences of both parties in the fields of
investment guarantees and commercial credit, the agreement establishes a framework that
promotes joint efforts to boost FDIs through co-insurance and reinsurance. This agreement has the
potential to improve quality of solutions presented to partners and clients of both parties. The
prospect of this bilateral cooperation includes co-insurance and reinsurance solutions for projects,
investment agreements, equity insurance, loans, shareholders’ and non-shareholders’ assurances
and various other forms of investment.

H.E. Raja Al Mazrouei, CEO of Etihad Credit Insurance, reiterated the company’s
commitment to strengthen its strategic ties, develop cooperations and exchange experiences with
key international institutions and agencies in the fields of insurance, credit and guarantees. This
comes in line with the company’s belief in the significance of efforts in boosting the resilience and
sustainability of the national economy and consolidating the UAE’s reputation in the export,
investment and foreign trade sectors, in line with the national goals of vision ‘We the UAE 2031.’
Furthermore, H.E. Al Mazrouei emphasised that the ECI’s partnership with MIGA signifies both
parties’ common interest in fostering bilateral cooperation to support FDIs and the expansion of
insurance and reinsurance activities. It fosters new opportunities for investment projects and
activities and helps in the promotion of trade flows, investment and export and re-export activities
in both the regional and global markets.

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