Page 59 - ETIHAD CREDIT INSURANCE PR REPORT - JULY 2024

8/1/24, 9:45 AM Etihad Credit Insurance and International Development Bank Ink
aims to encourage businesses in both nations to leverage this innovative initiative and expand
their export and trade activities into new markets.”
As a partner of the ‘Xport Xponential’ initiative, the International Development Bank will provide
additional funding opportunities for export and re-export companies in the UAE. The agreement
advances the development of credit solutions by giving businesses access to markets in Iraq and
CEPA countries. It also highlights the strategic partnership between the UAE and Iraq, promoting
trade routes that link the two nations, especially given the UAE-Iraq trade volume exceeds USD
27 billion annually. Remarkably, the International Development Bank has facilitated at least 10
percent of this trade in its first two years of operation in the UAE.
With this agreement, the International Development Bank joins a network of federal and local
entities supporting the ‘Xport Xponential’ initiative. These entities include the Abu Dhabi
Department of Economic Development (ADDED), Khalifa Fund for Enterprise Development
(KFED), Department of Economy and Tourism in Dubai, Dubai Airport Freezone (DAFZ), Sharjah
Chamber of Commerce and Industry (SCCI), Ajman Economic Development Department, Ras Al
Khaimah Economic Zones (RAKEZ), and Fujairah Department of Industry and Economy (IEDFUJ).
Financial institutions such as the Emirates Development Bank (EDB), Abu Dhabi Commercial
Bank (ADCB), First Abu Dhabi Bank (FAB), Dubai Commercial Bank (CBD), Ajman Bank, The
National Bank of Ras Al Khaimah (RAKBANK), and Fujairah National Bank (NBF) are also partners
of the initiative.

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