The UAE’s state export credit firm, Etihad Credit Insurance (ECI), held a closing ceremony to highlight the success of its “Xport Xponential” initiative, which has raised Dhs 174 million in finance to promote the expansion of SMEs. First Abu Dhabi Bank, Commercial Bank of Dubai, Ajman Bank, and Al Maryah Community Bank are the four banking partners of ECI that helped raise the operating capital. With its other banking partner, ECI is still dedicated to obtaining comparable finance and capital for SMEs.
The Economics Minister and Chairman of the Etihad Credit Insurance Board of Directors, Abdulla Bin Touq Al Marri, sponsored the program’s concluding ceremony. By promoting investment and talent recruitment, the event supports the Ministry’s objective to create a resilient entrepreneurial environment and a flexible future economy.
The “Xport Xponential” initiative is essential to the UAE’s continuous efforts to boost the share of small and medium-sized businesses in the non-oil GDP of the nation, said Bin Touq. Additionally, it directly supports the goals of the national plan known as “We the UAE 2031,” which intends to boost non-oil exports to Dhs 800 billion and grow international trade volume to Dhs 4 trillion during the next ten years.
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