Page 259 - ETIHAD CREDIT INSURANCE PR REPORT - MAY 2024 (International)

6/4/24, 4:42 PM Etihad Credit Insurance records 21-fold growth in gross exposure by end of 2023 to reach AED 9.6 billion in 5 years | Washington N…
ECI’s supported UAE exporters across 17 sectors in 110 countries, amounting to a non-oil trade and investment of AED 14 billion in
2023. This was facilitated by 21 agreements with government export credit agencies.

ECI’s commitment to supporting clients beyond credit insurance is demonstrated by the company’s handling of overdue payments,
resulting in collection of AED 82 million. It showcases ECI’s contributions to facilitating financial access 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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