Page 503 - MOE ENGLISH PR - MAY 2024

5/27/24, 4:19 PM ECI records 21-fold growth in gross exposure by end-2023 to reach AED9.6 billion in 5 years | Emirates News Agency
Furthermore, the report stated that ECI has given a

credit cover of AED4.7 billion to UAE’s industrial sector, a

key contributor to non-oil exports, with AED1.4 billion

committed in 2023 alone, enabling manufacturers’

exports achievement and in line with the company’s

partnership with the Ministry of Industry and Advanced

Technology (MoIAT).

It further highlighted ECI’s projects that aims to support

economic development and improve the quality of

living, including credit insurance commitment of USD

500 million to boost Africa’s clean energy transition as

part of the UAE’s USD 4.5 billion Africa Green Investment

initiative, announced during the Africa Climate Summit

held in September 2023. The report underscored ECI’s

strong track record of managing claims and recoveries

across its portfolio. The company supported clients with

the management of late payments worth AED415

million, of which AED353 million or 83 percent were

successfully recovered, it added.

It stated that ECI-backed trade finance lending crossed

AED1 billion in the first year of a partnership with DP

World Trade Finance. The partnership aims to broaden

https://wam.ae/en/article/b3a4qsw-eci-records-21-fold-growth-gross-exposure-end-2023 6/7