Page 65 - ETIHAD CREDIT INSURANCE PR REPORT - JULY 2024

8/1/24, 9:46 AM Etihad Credit Insurance and International Development Bank sign cooperation agreement to support ‘Xport Xponential’ initiative - Mid…

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 USD

27 billion annually. Notably, the International Development Bank has contributed at least10 per cent of the
yearly trade between the two nations in just its first two years of operation in the United Arab Emirates.

Through this agreement, the International Development Bank now joins a number of federal and local
entities, including 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), as
partners of the ‘Xport Xponential’ initiative. The list also includes 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)

Last Updated on 13 hours by Middle East News 247

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