Page 133 - ETIHAD CREDIT INSURANCE PR REPORT - MAY 2024 (International)
P. 133
6/4/24, 4:31 PM Etihad Credit Insurance records 21-fold growth in gross exposure by end of 2023 to reach AED 9.6 billion in 5 years | User | bigspri…
over AED 1.8 billion worth of credit cover provided.
ECI has given a credit cover of AED 4.7 billion to UAE's industrial
sector with AED 1.4 billion in 2023, in line with the partnership with
Ministry of Industry and Advanced Technology (MoIAT).
It further highlighted ECI's 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. The company supported clients
with management of late payments worth AED 415 million, with
recovery of AED 353 million or 83 per cent.
ECI-backed trade finance lending crossed AED 1 billion in the first
year of a partnership with DP World Trade Finance. It aims to
broaden SME access to trade finance by mitigating the potential
risks. ECI's plans to leverage the UAE's Comprehensive Economic
Partnership Agreements (CEPAs) to enhance trade and strengthen
commercial relations.
https://business.bigspringherald.com/bigspringherald/article/247pressrelease-2024-5-23-etihad-credit-insurance-records-21-fold-growth-in-gross-expo… 3/3
