UAE ECA Etihad extends guarantees worth $4.5bn in first 9 months of 2022

(National News, Abu Dhabi, 14 November 2022) Etihad Credit Insurance, the UAE’s export credit agency, issued 7,936 revolving credit guarantees worth Dh16.6 billion ($4.5bn) in the first nine months of the year to help boost the country’s non-oil foreign trade. ECI-issued credit guarantees from January until September helped facilitate non-oil trade for businesses located in the UAE that have exported to 111 countries, ECI said in a statement on Monday. These state-backed guarantees helped to preserve and create 50,000 jobs by supporting companies, 72% of which were small and medium enterprises, ECI said.