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  • 29-03-21

    Abu Dhabi Fund to support country’s export economy

    (MENAFN)The Abu Dhabi Fund for Development (ADFD) stated that it allocated 735 million dirhams (USD200 million) to hold up the country’s export economy.

    The budget portion sends to Abu Dhabi Exports Office (ADEX) – a state-owned credit facilities provider for foreign importers. It was set to increase and open new markets for UAE exports.

    Mohammed Saif Al-Suwaidi, director general of ADFD stated that “National export companies can leverage the financial support and protection of ADEX to grow their international operations at a time when overseas buyers continue to face supply chain disruption and liquidity challenges.”

    Increasing ADEX’s budget was part of a long-term strategy for the country’s export economy, and the wider push for economic diversification, he further stated.

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