Just over a year on from their landmark partnership, DP World Trade Finance with the support of Etihad Credit Insurance (ECI) have already financed trade worth more than AED 1 billion of non-oil-based trade to foster international trade and bolster the UAE’s export economy.
A significant portion of these transactions originate from small and medium-sized enterprises (SMEs), which have faced longstanding challenges in accessing trade finance solutions for global trade opportunities. The trades financed cover industries like agri-commodities, chemicals, manufacturing, and construction material.
As the UAE’s federal export credit company, ECI can provide trade credit insurance to financial institutions, empowering them to extend trade finance to businesses engaged in international trade. Serving as a crucial risk mitigant, ECI’s credit insurance enables financial institutions to offer working capital solutions, contributing to the overall growth of the UAE’s trade and economy.
DP World, in its ongoing transformation into an end-to-end supply chain solutions provider, recognised the longstanding challenge businesses face in accessing trade finance solutions for global trade opportunities. In response, DP World launched DP World Trade Finance to bridge this trade finance gap. DP World Trade Finance connects businesses with financial institutions and directly provides trade finance facilities on its own balance sheet.
DP World Trade Finance offers bundled and embedded trade finance solutions along with DP World’s logistics capability, providing businesses with structured trade finance solutions and helping them grow. Bundling of logistics and trade finance together offers businesses an economical solution that’s tailored to their business model, as well as providing necessary transparency and visibility on the underlying cargo, providing comfort to credit insurers like ECI. These structured trade finance solutions helped DP World Trade Finance to finance these businesses and contribute to the UAE’s trade and economy.
Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World, said:
“By seamlessly integrating physical infrastructure, fostering meaningful relationships, harnessing cutting-edge technology, and pioneering innovative finance solutions, we aim to elevate the global trade ecosystem. DP World’s vision is a future where the flow of trade transcends boundaries, unlocking unprecedented opportunities and fostering prosperity for nations and businesses alike.”
Raja Al Mazrouei, Chief Executive Officer, Etihad Credit Insurance, commented: “Together with DP World Trade Finance we are boosting the export economy and adding security to the lending process. Our mission is to enable every UAE business to trade across the globe with confidence, and this partnership is delivering this by streamlining access to finance and credit solutions.”
Read more news and exclusive features in our latest issue here.
Never miss a story… Follow us on:
International Trade Magazine
@itm_magazine
@intrademagazine
Media Contact
Joseph Clarke
Editor, International Trade Magazine
Tel: +44 (0) 1622 823 920
Email: editor@intrademagazine.com
