Etihad Credit to play a role in UAE's move away from oil

(Gulf Today, Dubai, 15 May 2022) Massimo Falcioni, CEO of Etihad Credit Insurance (ECI), the official export support agency of the United Arab Emirates (UAE), welcomed Sheikh Mohamed Bin Zayed Al Nahyan’s election as the Crown Prince of Abu Dhabi and his role in steering the UAE economy towards independence from oil. In this process, Greek and Turkish ECAs have recently signed cooperation agreements with Etihad Credit. Greece, keen to attract investment from the UAE, has agreed to create a €4 billion ($4.22bn) initiative to invest in the Greek economy during a visit by Greek premier Kyriakos Mitsotakis to Abu Dhabi on May 9th. Last year, the countries’ official export credit agencies signed an agreement to boost bilateral trade. In 2020, the two states inked a foreign policy and defense cooperation deal. A cooperation agreement has also been signed between Türk Eximbank and ECI The signing of the deal occurred amid the 2022 spring meeting in Istanbul of the International Association of Export Credits and Investment Insurers, also known as Berne Union, of which Türk Eximbank became a member in 1994. The said agreement aims to provide co-financing for projects involved in the export of goods and services in both countries, as well as sharing information between institutions.