Page 512 - MOE ENGLISH PR - MAY 2024

Additionally, ECI's commitment to supporting clients beyond credit insurance was

demonstrated by the company's effective handling of overdue payments, leading to the

collection of Dh82 million.

It showcases ECI's significant contributions to facilitating access to financing for UAE

exporters, with over Dh1.8 billion worth of credit coverage provided to financial

institutions over the past five years.

Non-oil exports

Furthermore, the report stated that ECI has given a credit cover of Dh4.7 billion to

UAE's industrial sector, a key contributor to non-oil exports, with Dh1.4 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 aim to support economic development and
improve the quality of life, including a $500 million credit insurance commitment to boost

Africa's clean energy transition as part of the UAE's $4.5 billion Africa Green Investment

initiative, announced during the September 2023 Africa Climate Summit.

It added that the company supported clients in managing late payments worth Dh415

million, of which Dh353 million, or 83 per cent, were successfully recovered. ECI-
backed trade finance lending crossed Dh1 billion in the first year of a partnership with

DP World Trade Finance.

The report also outlined ECI's plans to leverage the UAE's Comprehensive Economic
Partnership Agreements (CEPAs) to enhance trade further and strengthen commercial

relations. These efforts will be supported by ECI's expanding information database,

which grants access to over 300 million corporates globally, empowering UAE-based

exporters with valuable insights and intelligence.

https://gulfnews.com/business/banking/etihad-credit-insurance-achieves-gross-exposure-of-
dh96-billion-in-5-years-1.1716386890248