Abu Dhabi, UAE: The new law on public-private partnership (PPP) will put the UAE well on its way to achieving its agenda of implementing a sustainable, competitive-economy based on knowledge, expertise, and diversity, said Massimo Falcioni, CEO of Etihad Credit Insurance (ECI), the UAE Federal export credit company.
“PPPs boost efficiency, increase transparency in funds management, simplify processes that have cost implications, and integrate technologies of both government entities and private partners,” said Falcioni in a statement regarding the new law.
He said Etihad Credit Insurance is committed to encouraging the private sector to engage in developmental and economic projects that improve the quality of lives of today’s and future’s generations.’
“Over the last few months, ECI has partnered with private companies and government institutions to enhance public infrastructures in and outside the UAE. We have recently supported a major project in the Republic of Senegal to strengthen its national emergency response infrastructure benefiting millions of Senegalese,” Falcioni.
“We have partnered with Masdar to insure and fund a wind farm project in Uzbekistan, one of Central Asia’s largest renewables projects, which will power 500,000 homes. And we have also played a pivotal role in providing infrastructure finance to GE and the Iraqi Ministry of Finance to power up 1 to 2.5 million homes per year,” he added.