Page 81 - ETIHAD CREDIT INSURANCE PR REPORT - MAY 2024

6/4/24, 4:02 PM UAE’s Etihad Credit Insurance sees 21-fold growth in gross exposure over 5 years, reaching $2.6 billion
UAE’s Etihad Credit Insurance sees 21-fold growth in gross exposure over 5 years, reaching $2.6 billion
ECI covered 3.1 percent of UAE’s non-oil exports of $120 billion in 2023

ECI supports UAE exporters across 17 sectors in 110 countries, amounting to a non-oil trade and investment of $3.8 billion. (Supplied)
Etihad Credit Insurance (ECI), the UAE’s federal export credit company has posted by the end of 2023 a gross
exposure of AED9.6 billion ($2.6 billion), a remarkable 21-fold increase compared to 2019, according to the
company’s latest annual report for 2023. This was announced by H.E. Raja Al Mazrouei, chief executive officer
of ECI, during a media briefing attended by other senior officials from the company.
Aligning with the UAE’s economic vision
H.E. Abdulla Bin Touq Al Marri, UAE minister of Economy and chairman of ECI Board of Directors, said:
“Under the guidance of our wise leadership, the UAE has achieved outstanding successes on regional and
international levels, solidifying its standing as the region’s leading hub for trade and investment. With an
emphasis on emerging industries and SMEs, we will continue to broaden and diversify our economy according to
the ‘We the UAE 2031’ vision, which aims to increase the country’s non-oil exports to AED800 billion and raise
the volume of non-oil foreign trade to AED4 trillion by the next decade.”
H.E. Bin Touq added: “Etihad Credit Insurance has significantly contributed to advancing this national vision by
fostering the expansion of domestic trade and enterprises and facilitating crucial economic relations through
comprehensive economic partnership agreements (CEPAs). The company’s innovative credit solutions and
strategic collaborations have enhanced the competitiveness of UAE businesses worldwide. This not only
diversifies the UAE’s economic landscape, but also propels its non-oil exports forward.”
His Excellency stated that ECI’s recent commitments to clean and green energy initiatives further signify its role
as a driving force towards sustainability. “ECI’s support has been financial as well as strategic, contributing to the
2030 Agenda for Sustainable Development through support for non-oil trade, while also ensuring compliance with
international standards,” H.E. Bin Touq added.
Read more: Exclusive interview with ECI’s CEO H.E. Raja Al Mazrouei on empowering global trade,
shaping UAE’s economy

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