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  • 08-03-20

    ADEX approves allocation of USD150 million to support expansion of UAE's export businesses

    (MENAFN) The Executive Committee of the Abu Dhabi Exports Office, ADEX, agreed to the allocation of USD150 million to help with the strategic growth of the nation's export businesses and sustained changing of the UAE economy.


    The committee talked about some requirements to finance exports and reviewed the strategies built to promote services given by ADEX locally and globally for the next period.


    "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," as said by Mohammed Saif Al Suwaidi, Director General of Abu Dhabi Fund for Development and Chairman of the Executive Committee of ADEX.


    He also said that, "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".

    MENAFN0803202000450000ID1099818678

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