Page 506 - MOE ENGLISH PR - MAY 2024

5/27/24, 4:19 PM Etihad Credit Insurance records 21-fold growth in gross exposure by end of 2023 to reach AED 9.6bln in 5 years

ECI covers 3.1 per cent of UAE’s non-oil exports of AED 441 billion in 2023,

compared to 1.9 per cent in the previous year.
ECI supports UAE exporters across 17 sectors in 110 countries, amounting to a non-

oil trade and investment of AED 14 billion.
Over two-thirds of beneficiaries of ECI comprise SMEs while large corporations

represent another 20.9 per cent.

The company effectively handled overdue payments, resulting in the collection of
AED 82 million.

ECI receives AA- international rating by Fitch for the fifth consecutive year.

UAE, May 22, 2024: Etihad Credit Insurance (ECI), the UAE Federal export credit

company, has unveiled its remarkable growth trajectory in its latest annual report for the

year 2023. With a gross exposure of AED 9.6 billion by the end of 2023, ECI has
experienced a staggering 21-fold increase compared to 2019. This was announced during

a media briefing led by H.E. Raja Al Mazrouei, Chief Executive Officer of ECI, in the
presence of other senior officials from the company.

H.E. Abdulla Bin Touq Al Marri, Minister of Economy and Chairman of ECI Board of

Directors, said: “Under the guidance of our wise leadership, the UAE has achieved
outstanding successes on regional and international levels, solidifying its standing as the

region's leading hub for trade and investment. With an emphasis on emerging industries
and SMEs, we will continue to broaden and diversify our economy according to the ‘We

the UAE 2031’ vision, which aims to increase the country's non-oil exports to AED 800

billion and raise the volume of non-oil foreign trade to AED 4 trillion by the next decade.”

H.E. Bin Touq added: “Etihad Credit Insurance has significantly contributed to advancing
this national vision by fostering the expansion of domestic trade and enterprises and

facilitating crucial economic relations through comprehensive economic partnership
agreements (CEPAs). The company’s innovative credit solutions and strategic

collaborations have enhanced the competitiveness of UAE businesses worldwide. This

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