Page 83 - ETIHAD CREDIT INSURANCE PR REPORT - MAY 2024 (International)
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6/4/24, 4:27 PM Etihad Credit Insurance records 21-fold growth in gross exposure by end of 2023 to reach AED 9.6 billion in 5 years | Financial New…
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
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