Page 63 - ETIHAD CREDIT INSURANCE PR REPORT - SEPTEMBER 2024

9/19/24, 9:41 AM Latest News
sourcing endeavours.

In addition to the strategic roles played by the financial institutions, Allen Overy Shearman Sterling (A&O) and
Clyde & Co. also provided expert legal counsel for the new alliance. Their expertise helped to strengthen the

foundation of the 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 the UAE’s global bank and we are

uniquely positioned to support transactions that facilitate the development of the UAE’s international trade
and investment landscape. As the largest bank in the country with an international network covering more

than 60% of global GDP, FAB’s expertise and leadership in international trade finance, coupled with our
financial strength, underpin our role in this important transaction that further boosts the UAE’s status as a

global export hub for non-oil commodities.”

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.

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