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UAE exports to Egypt given $100m financing boost

UAE exports to Egypt are set to increase after the two Arab countries signed a revolving loan facility of $100 million Adex

The UAE’s exports to Egypt are set to increase after the two Arab countries signed a revolving loan facility of $100 million.

Abu Dhabi Exports Office (Adex), the export-financing arm of the Abu Dhabi Fund for Development, has signed a financing agreement with the National Bank of Egypt to reinforce bilateral trade and economic relations.

Under the terms of the agreement, the facility will support transactions involving UAE exports to Egypt, supporting cross-border trade.

Mohamed Saif Al Suwaidi, chairman of the exports executive committee of the Abu Dhabi Exports Office, said the agreement will bolster Adex’s plans to tap into emerging regional and global markets. 

“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,” he added.

The Abu Dhabi Exports Office extends loans and guarantees to Emirati exporters to promote global expansion. 

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