Dubai PR Network, Online Press Release from Dubai and Middle East
 
Business, Banking and Investments(Banking & Investments)
Filter PR by
  
Abu Dhabi Exports Office (Adex) Approves AED 550 Million to Finance UAE Exports in 2020
 

•         ADEX provides financial solutions to promote UAE products and services in international markets
•         ADEX to focus on supporting UAE export growth to strategic emerging markets in Africa and Asia

 
Abu Dhabi-UAE: 08 March, 2020 – The Executive Committee of the Abu Dhabi Exports Office(ADEX) approved the allocation of AED 550 million ($150 million) to support the strategic expansion of the nation’s export businesses and continued diversification of the UAE economy.

During the meeting, the committee discussed a number of requests to finance exports, as well as reviewed the strategies developed to promote services provided by ADEX locally and globally for the coming period. 

His Excellency Mohammed Saif Al Suwaidi, Director General of Abu Dhabi Fund for Development and Chairman of the Executive Committee of ADEX, said: “The Committee approved the allocation of AED 550 million to facilitate direct loans to foreign buyers as well as lines of credit for international financial institutions exclusively available to importers of goods and services from UAE companies.”

“The ADEX Executive Committee is focused on developing a wide range of innovative financial products and tools that better enable UAE exporters to successfully compete for new business growth opportunities in rapidly expanding emerging markets across Africa, Asia and around the world.  Allocating these funds in support of our national export companies represents a major step advancing the ADEX mandate to increase the volume and value of UAE exports and drive sustainable national economic expansion.” said by H.E Al Suwaidi

In addition to approving the budget allocation, the Executive Committee discussed the operational framework for how to utilize the financial solutions offered by ADEX to support UAE exporters to encourage national companies to increase their share of exports and promote broader UAE economic expansion.

Mr. Saeed Al Dhaheri, ADEX Acting Director General, said: “ADEX is collaborating with Chambers of Commerce and economic development departments across the UAE in a unified effort to help national export companies understand how to leverage the power of ADEX to safely and securely expand into strategic international growth markets. We want all UAE exporters and their foreign buyers to know that the UAE stands behind them as a financial catalyst for mutually beneficial business development.”

ADEX was established by ADFD in 2019 to strategically advance its expanded mandate to support the continued diversification and sustainable growth of the UAE economy in support of the direction set forth in UAE Vision 2021, Abu Dhabi Economic Vision 2030, and UAE Centennial 2071. 

ADEX provides direct loans and guarantees to overseas buyers from the public and private sectors seeking to import goods and services from the UAE. ADEX funding and guarantees are designed to support national businesses of all sizes across the UAE in all non-crude oil sectors. 


Posted by : Dubai PR Network Editorial Team
Viewed 3837 times
PR Category : Banking & Investments
Posted on : Sunday, March 8, 2020  11:19:00 AM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Deem Finance Brings New Dimension to Real-Time Credit Qualit...
Next Story : Female Traders Trending Upwards in UAE and MENA
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Eid Gifts From The Body Shop [7052-Views]
Kristina Fidelskaya A/W 2020 Collection “Dream” [5449-Views]
Happy Eid with Parmigiani Fleurier Toric Fleur [4883-Views]
Sony Middle East & Africa Launches New Compact 4K Handycam® Camcorder with Advanced Image ... [4059-Views]
UAE Banks Among Top Performing in GCC, KPMG Report Finds [4010-Views]
Etihad Guest Rewards Members While Staying Home [3440-Views]
Made in Italy, ICSA® Issues a Notification of Counterfeit Products Found in the Kingdom of... [3346-Views]
Denim Culture [3120-Views]
First Range Rover Made Under Social Distancing Measures Comes Off Jaguar Land Rover's Sol... [2813-Views]
Ralph Lauren: How to master the art of tie-dye. #RLatHome [2743-Views]
Introducing the Marks & Spencer Summer Edit [2731-Views]
IATA Outlines Layered Approach for Industry Re-Start [2624-Views]
Karl Lagereld Drives Digital Innovation With Launch of the “Maison Karl Lagerfeld” Game [2620-Views]
Union Coop Launched ‘Drive Thru' Shopping Service [2595-Views]
Emirates Sets Industry-leading Safety Standard for Customers Travelling as It Resumes Oper... [2571-Views]
MHPS Captures Global Gas Turbine Market Share Leadership Again [2542-Views]
OMEGA Adds Full Gold Models to The Speedmaster 38 mm Collection [2452-Views]
SRTI Park Discusses Reality, Future of Research and Development in Arab Region [2394-Views]
UAE Develops a Rapid Coronavirus Laser Testing Technology [2374-Views]
Dubai Customs and Omani Counterpart Discuss Post-Covid19 Era [2370-Views]
HONOR MagicBook Series is Perfect for Fashion Forward, Design Conscious Individuals Across... [2345-Views]
Jaguar Land Rover Special Vehicle Operations Reports Fiscal 2019/20 Retail Sales Growth [2329-Views]
Keeping Mobile Networks Running Top Priority During COVID-19 Pandemic [2218-Views]
The Heart of Europe Takes Shape as the Ultimate Sustainable Island Tourism Destination in ... [2218-Views]
VFS Global Joins Nation's Biggest Community Campaign; Donates to the 10 Million Meals Init... [2112-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories