Page 31 - ETIHAD CREDIT INSURANCE PR REPORT - SEPTEMBER 2024

partnership, protecting the interests of all parties involved and ensuring the
transaction’s overall integrity.
Khalil Al Mansoori, Director General of ADEX, remarked: “The agreement is a
continuation of our effort to expand the scope of partnerships, so we can further
unify our initiatives to support and develop national exports by providing flexible
and reliable financing. This partnership with National and international banks
and other financial institutions aligns with UAE economic diversification goals
and underscores our belief that united efforts lead to transformative success.”
Stephan Jansma, Trafigura Group Chief Financial Officer, stated, “We appreciate
the significance of Etihad Credit Insurance’s convening power to bring together
the Abu Dhabi Exports Office, First Abu Dhabi Bank and Natixis to deliver the
first financing of its kind to a commodity trading company, supporting the UAE’s
increasing significance as a producer of non-hydrocarbon resources.”
Natixis Corporate and Investment Banking DIFC Branch spokesperson, Barbara
Riccardi, MD and Regional Head Middle East – Caucasus and Central Asia
stated: “Natixis CIB is pleased to have played a key role in coordinating,
structuring, and arranging this financing deal in support of Trafigura’s efforts to
increase commodity purchases from the UAE, which also contributes to the
UAE’s strategic vision of expanding non-oil exports. We are proud to have been
a trustworthy partner of ECI from the beginning, and our teams have developed
a wealth of experience and expertise managing ECI covered loans. This
financing further solidifies Natixis CIB’s position as a key global financial player
to lead landmark transactions.”
Hana Al Rostamani, Group Chief Executive Officer of FAB, said: “FAB is
bolstering its position as an economic connector by providing trade finance
solutions for this strategic partnership, which supports our aims of supporting
the UAE in facilitating trade and investment. In partnering with others, we are
harnessing our expertise and financial strength as the financial partner for the
Middle East and North Africa to grow the UAE’s economy and integrate the
country’s commodities into global networks.”
By bringing these leading financial institutions together to assist Trafigura in
sourcing commodities from the UAE, ECI has made significant advancements in
the country’s export capacities, thereby solidifying its position as a major player
in international trade, while also fostering sustainable economic growth.

https://www.shippingherald.com/etihad-credit-insurance-signs-financing-deal-to-support-
trafiguras-exports-from-the-uae/