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9/19/24, 9:41 AM Etihad Credit Insurance signs financing deal to support Trafigura’s exports from UAE – UAE Business and Travel Insights – TotalUA…

Etihad Credit Insurance signs financing deal

to support Trafigura’s exports from UAE

BY CONTENT ADMIN

ABU DHABI, 18th September, 2024 (WAM) — Etihad Credit Insurance (ECI), the UAE Federal export credit
company, in collaboration with Abu Dhabi Exports Office (ADEX), First Abu Dhabi Bank (FAB), and
Natixis Corporate and Investment Banking (Natixis CIB), signed a joint agreement to support Trafigura, a
market leader in the global commodities industry, to expand their global acquisitions of non-hydrocarbon
commodities originating from the UAE.

The financing deal was announced during a signing ceremony between ECI and the relevant parties, which took
place recently, at Rixos Marina Hotel, Abu Dhabi.

Mohamed Saif Al Suwaidi, Director General of ADFD and Chairman of the Exports Executive Committee of
ADEX, said, “This collaboration is part of ADEX’s core mission to empower UAE businesses and enable them
to expand their global footprint. Strategic partnerships between local and international banks – public and private
– such as this one help us increase our national exports and strengthen the UAE’s role as a key player in
international trade, in alignment with the UAE strategies and Visions. Our commitment remains focused on
creating lasting economic value for our country while enabling our companies to compete and thrive on the
world stage.”

Raja Al Mazrouei, CEO of Etihad Credit Insurance, stated, “It gives us great pleasure to facilitate this strategic
alliance between Abu Dhabi Exports Office (ADEX), First Abu Dhabi Bank (FAB), and Natixis CIB to support
Trafigura. This collaboration exemplifies the UAE’s stable investment climate and effective focus on non-oil
sectors. More importantly, we believe this association not only increases in-country value but also strengthens
the UAE’s reputation as a trusted source of essential commodities on a global scale. The equitable participation
of ADEX, FAB and Natixis CIB, in this transaction reflects ECI’s vision of fostering collaboration, which lays
the groundwork for a harmonious and mutually beneficial partnership.”

This collaboration highlights ECI’s dedication to developing strategic alliances that boost the UAE’s economy,
increase the global visibility of its non-oil commodities, and solidify the UAE’s standing as a hub for the same. It
also demonstrates the commitment of Abu Dhabi Exports Office (ADEX), First Abu Dhabi Bank (FAB), and
Natixis CIB, to supporting Trafigura in securing vital non-oil commodities such as metals and minerals from the
UAE, further integrating the country’s resources into international supply chains.

In line with the collaboration, Trafigura will receive a USD 150 million Revolving Credit Facility for two years
to finance its acquisitions of non-hydrocarbon commodities originating from the UAE. These commodities are
intended for export and re-export, thus cementing the UAE’s position as a vital hub in global trade networks.

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