Page 66 - ETIHAD CREDIT INSURANCE PR REPORT - SEPTEMBER 2024

9/19/24, 9:41 AM Etihad Credit Insurance, in collaboration with Abu Dhabi Exports Office - Middle East News 247
makes a substantial contribution by utilising its mandate to support exports from the UAE, thus amplifying the
transaction’s economic effect. Similarly, FAB’s significant global and regional reach lends substantial financial

stability and strength to the partnership, bolstering the team’s collective efforts to assist Trafigura in its
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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