, the export-financing arm of Abu Dhabi Fund for Development (ADFD), has signed a financing agreement with the National Bank of Egypt (NBE), to boost trade and economic ties between the UAE and Egypt. The agreement, which establishes a $100m revolving loan facility, aims to support transactions involving UAE exports to Egypt.){kind=link}
Abu Dhabi Exports Office (ADEX), the export-financing arm of Abu Dhabi Fund for Development (ADFD), has signed a financing agreement with the National Bank of Egypt (NBE), to boost trade and economic ties between the UAE and Egypt. The agreement, which establishes a $100m revolving loan facility, aims to support transactions involving UAE exports to Egypt. The initiative seeks to enhance economic activities and cross-border trade relations, building on the existing strong partnership between the two countries.
Mohamed Saif Al Suwaidi, Director-General of ADFD and Chairperson of the Exports Executive Committee of ADEX, said: “The agreement with the National Bank of Egypt reflects our leadership’s vision and commitment to strengthening national exports. The financing provided by ADEX represents a significant step forward in contributing to the growth of our national economy and enriching a strategic partnership that enhances trade relations between our two countries.”
He added that the agreement would support ADEX’s ambitions to access new regional and global markets, saying, “We aim to empower Emirati exporters to expand their international presence and enhance their competitiveness on a global scale, thus increasing their contribution to the economy.”
The agreement marks a milestone in ADEX’s efforts to strengthen cooperation with Egypt and other countries. The partnership was formed by unilateral signings by each party, which were then combined to finalize the collaboration.
Abu Dhabi Exports Office offers loans and guarantees to Emirati exporters to boost their economic contributions and global expansion. The agreement reflects a strategic collaboration designed to strengthen the export sector, in line with mutual interests.
Source: Daily News Egypt