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), reinforcing trade and economic relations between the UAE and Egypt. This landmark collaboration solidifies the longstanding bond between the two nations and showcases their commitment to mutual prosperity and growth.
Under the terms of the agreement, a revolving loan facility of US$100 million has been established, with the primary aim of supporting transactions involving UAE exports to Egypt. This initiative seeks to bolster economic activities and promote cross-border trade relations, further enhancing the already fertile trade landscape between the two nations.
The agreement marks a milestone in ADEX’s ongoing efforts to strengthen cooperation with Egypt and other countries. The partnership was a result of unilateral signings by each party, which were subsequently combined to cement the collaboration’s foundation.
The Abu Dhabi Exports Office extends loans and guarantees to Emirati exporters, with the aim of enhancing their contributions to the economy and fostering their global expansion. The agreement reflects a strategic collaboration designed to strengthen the export sector, aligning with mutual interests.
Also published on Medium.
