Page 321 - ETIHAD CREDIT INSURANCE PR REPORT - MAY 2024 (International)

6/4/24, 4:47 PM Etihad Credit Insurance records 21-fold growth in gross exposure by end of 2023 to reach AED 9.6 billion in 5 years | Texas News J…
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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