Page 12 - ETIHAD CREDIT INSURANCE PR REPORT - JULY 2024

Press release

Etihad Credit Insurance and International Development Bank sign

cooperation agreement to support ‘Xport Xponential’ initiative

July 31, 2024: Etihad Credit Insurance (ECI), the UAE Federal export credit company, signed a

cooperation agreement with the International Development Bank (IDB), the largest banking
network in Iraq, to support the ‘Xport Xponential’ initiative. By signing the agreement, the bank

will join the list of partners of the ‘Xport Xponential’ initiative, launched by ECI in May with the

goal of empowering UAE-based companies that operate in the industrial, export, and re-export
sectors.

Her Excellency Raja Al Mazrouei, CEO of Etihad Credit Insurance, said: “This partnership

represents a valuable addition to the ‘Xport Xponential’ initiative, as it supports both parties in
their efforts to facilitate trade and economic activities of businesses based in the UAE. It also gives

us great pleasure to announce that the International Development Bank, the first Iraqi bank with

operations in the UAE, will be joining the initiative. We are confident that our mutual cooperation
will further improve trade relations between the two nations.”

Dr. Ziad Khalaf Abed Kareem, Chairman of the Borad of International Development Bank,

stated: “We at the International Development Bank are committed to further strengthen our
presence and contributions to the UAE's and the region’s trade and export landscape and helping

build trade channels between the UAE and Iraq markets. Our goal is to use this partnership to

encourage businesses in both nations to capitalise on this revolutionary initiative and expand their
export and trade operations into previously untapped markets.”

As one of the partners in the ‘Xport Xponential’ initiative, the International Development Bank
will now offer additional funding opportunities for export and re-export companies in the UAE.

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