Page 169 - ETIHAD CREDIT INSURANCE PR REPORT - MAY 2024 (International)

6/4/24, 4:34 PM Etihad Credit Insurance records 21-fold growth in gross exposure by end of 2023 to reach AED 9.6 billion in 5 years | Markets
for UAE exporters, with 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.

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