Page 109 - ETIHAD CREDIT INSURANCE PR REPORT - MAY 2024

committed in 2023 alone, enabling manufacturers’ exports achievement and in line with
the company’s partnership with the Ministry of Industry and Advanced Technology
(MoIAT).

It further highlighted ECI’s projects that aims to support economic development and
improve the quality of living, including credit insurance commitment of USD 500 million
to boost Africa’s clean energy transition as part of the UAE’s USD 4.5 billion Africa Green
Investment initiative, announced during the Africa Climate Summit held in September
2023. The report underscored ECI’s strong track record of managing claims and
recoveries across its portfolio. The company supported clients with the management of
late payments worth AED415 million, of which AED353 million or 83 percent were
successfully recovered, it added.

It stated that ECI-backed trade finance lending crossed AED1 billion in the first year of a
partnership with DP World Trade Finance. The partnership aims to broaden SME access
to trade finance by mitigating the potential risks and covering industries including
agricultural commodities, chemicals, manufacturing, and construction materials.

The report also outlined ECI’s plans to leverage the UAE’s Comprehensive Economic
Partnership Agreements (CEPAs) to further enhance trade and strengthen commercial
relations. These efforts will be supported by ECI’s expanding information database,
which grants access to over 300 million corporates globally, empowering UAE-based
exporters with valuable insights and intelligence.

Provided by SyndiGate Media Inc. (Syndigate.info

https://www.msn.com/en-ae/news/other/eci-records-21-fold-growth-in-gross-exposure-by-end-
2023-to-reach-aed96-billion-in-5-years/ar-
BB1mQRfn#:~:text=With%20a%20gross%20exposure%20of%20AED9.6%20billion%20by,presence
%20of%20other%20senior%20officials%20from%20the%20company.