Abu Dhabi, UAE — Abu Dhabi Exports Office (ADEX), the export-financing arm of Abu Dhabi Fund for Development (ADFD), has signed a $100 million financing agreement with the National Bank of Egypt (NBE).
Under the terms of the agreement, a revolving loan facility of US$100 million has been established, with the primary aim of supporting transactions involving UAE exports to Egypt. This initiative seeks to bolster economic activities and promote cross-border trade relations.
Mohamed Saif Al Suwaidi, Director-General of ADFD and Chairman of the Exports Executive Committee of ADEX, said, “The financing extended by ADEX represents a significant stride forward – a mission that actively contributes to the growth of our national economy and enriches a strategic partnership that enhances trade relations between our two countries.”
He added that the agreement would bolster ADEX’s ambitions to tap into emerging regional and global markets, noting, “Our aim is to empower Emirati exporters to expand their international presence and enhance their competitiveness on a global scale, thus increase their contribution to the economy.”
The partnership was a result of unilateral signings by each party, which were subsequently combined to cement the collaboration’s foundation.
The Abu Dhabi Exports Office extends loans and guarantees to Emirati exporters to enhance their contributions to the economy and foster their global expansion.
