Page 87 - ETIHAD CREDIT INSURANCE PR REPORT - MAY 2024 (International)

Etihad Credit Insurance records 21-

fold growth in gross exposure by end

of 2023 to reach AED 9.6 billion in 5

years

24-7 PRESS RELEASE NEWSWIRE
Thursday, May 23, 2024 at 11:00am GMT+4

DUBAI, UAE, May 23, 2024 /24-7PressRelease/ -- Etihad Credit Insurance (ECI),
the UAE Federal export credit company, unveiled its growth trajectory in its

annual report for 2023. With a gross exposure of AED 9.6 billion, ECI

experienced a 21-fold increase compared to 2019.

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 achieved
regional and international success, becoming a leading hub for trade and

investment. Emphasising emerging industries and SMEs, we are diversifying our

economy according to the 'We the UAE 2031' vision. ECI's financial and strategic
support contributes to the 2030 Agenda for Sustainable Development."

H.E. Raja Al Mazrouei, Chief Executive Officer of ECI, said: "We provide

innovative credit solutions, easy financial access, expert market insights, and

nurture strategic collaborations. Our dedication to UAE exporters is reflected by
the 25 per cent increase in policies issued. Our primary aim is to expand ECI's

services to strengthen national exports."

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

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21fold-growth-in-gross-exposure-by-end-of-2023-to-reach-aed-96-billion-in-5-years