Page 61 - ETIHAD CREDIT INSURANCE PR REPORT - JULY 2024

8/1/24, 9:45 AM ECI, IDB sign cooperation agreement to support 'Xport Xponential' initiative
Dr. Ziad Khalaf Abed Kareem, Chairman of the IDB Borad, 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. The
agreement further advances the development of credit solutions by providing businesses with access
to the markets of Iraq and CEPA countries. The agreement also emphasises the strategic partnership
between the two countries and promotes trade and export routes that link them, especially since the

UAE-Iraq trade volume exceeds US$27 billion annually. Notably, the International Development
Bank has contributed at least 10 percent of the yearly trade between the two nations in just its first
two years of operation in the United Arab Emirates.

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