Abu Dhabi (Al-Ittihad) The Abu Dhabi Exports Office (ADEX), affiliated with the Abu Dhabi Fund for Development, signed a financing agreement with the ECOWAS Bank for Investment and Development in Africa. The United Arab Emirates and the member states of the Bank in West Africa. The agreement also supports the establishment of additional credit lines, and the provision of facilitating and supportive means for joint financing operations, thus contributing to strengthening the presence of national exports in African markets. , Acting Director General of the Abu Dhabi Exports Office, and Dr. George Agyekum Doncor, Chairman of the Board of Directors of ECOWAS Bank for Investment and Development in Africa, and the signing was attended by Mohammed Saif Al Suwaidi, Director General of the Abu Dhabi Fund for Development, Chairman of the Executive Committee for Exports, Khalifa Abdullah Al Qubaisi, Deputy Director General and a number of Officials on both sides.
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During the signing of the agreement -
During the signing of the agreement
Mohammed Saif Al Suwaidi said: “The agreement signed with the bank reflects the keenness of the Abu Dhabi Export Office to support the efforts of the UAE in developing national exports and promoting the process of economic diversification. It also contributes to enabling Emirati companies to be present in African markets, and under the agreement, it will work.” Abu Dhabi Exports “to open a credit line to the Investment and Development Bank with the aim of re-lending it to buyers and importers from member countries affiliated with the Bank to purchase goods and services from an Emirati exporter, in a way that contributes to developing trade relations and achieving the common interests of both parties, and accelerating the pace of economic growth.” For his part, Khalil Fadel Al Mansouri said: “This agreement comes as a continuation of the efforts made by the Abu Dhabi Exports Office to expand the scope of its partnerships with African countries, especially as it came as a complement to the agreement signed by (ADEX) last year with the Trade and Development Bank for Eastern and Southern Africa, where Through our partnership with ECOWAS Bank for Investment and Development, we aim to unify joint efforts to support and develop national exports, by providing reliable sources of finance, which contribute to strengthening the presence of Emirati companies in the markets of West African countries, as well as providing credit facilities and innovative and effective solutions that allow both The exporter and importer benefit from the financing benefits provided by the two parties,” stressing that the agreement will also contribute to reducing the challenges facing local exporters and foreign buyers from issues related to the availability of liquidity and cash flows. In turn, Dr. George Agyekum Donkur said: “The cooperation agreement with the Abu Dhabi Export Office will pave the way for building strategic relations between West African countries and the UAE, and our partnership will contribute to charting prosperous future paths for a new stage that keeps pace with economic developments and enhances the trade exchange between the two sides. We will work together to take advantage of the available opportunities, competitive advantages and financing provided by ADEX, which will help importers in African countries to import Emirati goods and products in easy and safe ways, pointing out that the agreement will enhance the sustainability of economic work and commercial activity in a way that benefits the UAE economy and African member states. in the bank”.
