Page 522 - MOE ENGLISH PR - MAY 2024

5/27/24, 4:23 PM PRESSR: Etihad Credit Insurance records 21-fold growth in gross exposure by end of 2023 to reach AED 9.6bln in 5 years — Tra…
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

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