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9/19/24, 9:43 AM Trafigura agrees ECA-backed facility for UAE non-oil exports | Global Trade Review (GTR)
Addax Energy The facility will finance Trafigura’s purchase of non-oil commodities such as
secures metals and minerals originating in the UAE.
US$195mn
revolving credit “These commodities are intended for export and re-export, thus cementing
facility the UAE’s position as a vital hub in global trade networks,” ECI says.

Natixis appoints Trafigura group chief financial officer Stephan Jansma says the deal is “the
new co-heads of first financing of its kind to a commodity trading company supporting the
global trade, UAE’s increasing significance as a producer of non-hydrocarbon resources”.
replacing Delas
The UAE aims to reach AED800bn (US$218bn) in non-oil exports by the
ECI launches next decade. Adex previously backed another Trafigura facility –
financing, a US$135mn lending facility in support of commodity purchases – which
insurance and
advisory platform covered purchases of refined hydrocarbons as well as metals.
to boost UAE non- ECI chief executive Raja Al Mazrouei says the deal highlights the country’s
oil exports
focus on non-oil sectors and “strengthens the UAE’s reputation as a trusted
source of essential commodities on a global scale”.

The export credit agency adds the initiative is “a significant turning point in the UAE’s export
landscape”.

“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,” says Mohamed Saif Al Suwaidi, director-general of the Abu Dhabi Fund for
Development and chairman of Adex’s exports executive committee.

The agreement also marks the latest in a series of ECA-backed Trafigura deals, including in the
Middle East.

In September, the trading giant clinched a three-year US$500mn credit facility with the Saudi
Export-Import Bank, facilitating the purchase of metals such as gold and copper as well as
downstream oil and gas products.

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