Page 529 - MOE ENGLISH PR - MAY 2024

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 SME access to trade finance by mitigating the potential risks and
covering industries including agricultural commodities, chemicals, manufacturing,
and construction materials.

The report also outlined ECI’s plans to leverage the UAE’s Comprehensive
Economic Partnership Agreements (CEPAs) to further enhance trade 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://www.msn.com/en-ae/news/other/eci-records-21-fold-growth-in-gross-exposure-by-end-
2023-to-reach-aed96-billion-in-5-years/ar-BB1mQRfn