Page 16 - ETIHAD CREDIT INSURANCE PR REPORT - MAY 2024 (International)

Press Release

Etihad Credit Insurance records 21-fold growth in gross exposure

by end of 2023 to reach AED 9.6 billion in 5 years

Bin Touq: “Thanks to the directives of its wise leadership, the UAE continues to

consolidate its position as a leading hub for investment and business. ECI’s positive
results reflect the growing bonds of cooperation between the country and its most

prominent partners at the regional and global levels.”

• 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