Page 177 - MOE ENGLISH PR REPORT - JANUARY 2025

communities in the national economy, and promotes its reputation regionally and globally, thereby
consolidating the country’s position as a leading hub for business and trade."

Several factors contributed to ECI's achievement, including strong government support as the
federal export credit agency. Its capital strength and lack of financial constraints were crucial.
Additionally, a robust reinsurance programme and expertise in insuring foreign trade risks played
vital roles.

Raja Al Mazrouei, CEO of ECI, highlighted that this rating is among the highest given by specialised
agencies. It serves as a benchmark for ECI's financial performance and risk tolerance. She noted
that "The AA-rating further helps ECI provide its services and solutions more effectively worldwide,
boosts national export competitiveness, and makes it easier for Emirati products to reach targeted
global markets."

ECI's Role in National Economic Goals

Since its establishment, ECI has been pivotal in supporting the UAE economy and non-oil foreign
trade. By facilitating local trade activities and providing tools against trade risks, it reduces
financing costs. This enables access to international markets while advancing national economic
objectives through comprehensive services.

Aligned with the 'We the UAE 2031' initiative, which aims to boost GDP to AED 3 trillion by 2031, ECI
plays a key role in creating a competitive environment for exporters. The initiative also targets
increasing non-oil exports to AED 800 billion. This milestone underscores efforts to enhance export
activities for UAE-based companies.

ECI continues to empower entities by offering protection against political risks and facilitating
project financing. Its strategic roadmap aims to expand credit assistance for manufacturers and
exporters, further strengthening its impact on global market reach for Emirati products.

The alignment of ECI’s ratings with the UAE’s Long-Term IDR reflects robust economic policies
aimed at fostering a dynamic economy ready for future challenges. This alignment underscores
strategic initiatives that bolster the nation's position as a global trade leader while ensuring
sustainable growth across diverse sectors.

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