ADEX Approves $ 150 Million to Finance UAE Exports

The executive committee of the Abu Dhabi Export Board (ADEX) approved the allocation of 550 million dirhams ($ 150 million) to support the strategic expansion of the country’s export businesses and the continued diversification of the economy of the United Arab Emirates.
During a meeting, the committee discussed a number of export financing requests, as well as reviewed the strategies developed to promote the services provided by ADEX locally and globally for the coming period.
Mohammed Saif Al-Suwaidi, Managing Director of the Abu Dhabi Fund for Development and Chairman of the Executive Committee of ADEX, said: “The committee approved the allocation of 550 million dirhams to facilitate direct loans to foreign buyers. as well as lines of credit for financial institutions available exclusively to importers of goods and services from UAE businesses.
“The executive committee of ADEX is focused on developing a wide range of innovative financial products and tools that enable UAE exporters to better compete for new business growth opportunities in fast-growing emerging markets. expansion in Africa, Asia and the world. The allocation of these funds in support of our national export companies represents a major step in advancing ADEX’s mandate to increase the volume and value of UAE exports and foster national economic expansion. sustainable, ”Al-Suwaidi said.
In addition to approving the budget allocation, the Executive Committee discussed the operational framework on how to use the financial solutions offered by ADEX to help UAE exporters to encourage domestic companies to increase their share of exports and to promote wider economic expansion of the United Arab Emirates.
Saeed Al-Dhaheri, ADEX Acting Managing Director, said, “ADEX is collaborating with UAE Chambers of Commerce and Economic Development Departments in a unified effort to help domestic export companies understand how to pull using the power of ADEX to grow safely and securely. strategic markets for international growth. We want all UAE exporters and their overseas buyers to know that UAE supports them as a financial catalyst for mutually beneficial business development.