Etihad Credit Insurance CEO Highlights Role of Credit Agencies in Supporting Growing Small Businesses
The role of export credit agencies is vital in accelerating post-pandemic economic recovery through exports, re-exports, project development and investments, said Massimo Falcioni, CEO of Etihad Credit Insurance.
Speaking at the Global Investment Forum hosted by Khaleej Times, he said: “The aim of these institutions is to help companies grow in international trade by bridging the gap and helping companies access finance. .
He explained that Etihad Credit Insurance (ECI) is the United Arab Emirates federal export credit company established in accordance with the UAE Vision 2021, which aims to implement policies of economic diversification and reduce dependence on petroleum resources as a source of income. The main objective of the ICE according to the provisions of its statute published by the Cabinet is to guarantee the commercial and non-commercial risks associated with the export and re-export of goods and services.
“At ECI, our role is to complement, not compete with the private sector,” said Falcioni. “In this way, we support smaller and growing businesses and protect economic cycles. We are a facilitator who remains committed to national and regional markets. We are also a catalyst for the “Operation 300 Billion” industrial strategy, which is a comprehensive 10-year strategy that aims to empower and develop the UAE industrial sector to become the driving force of a national economy. sustainable, increasing its contribution to GDP from 133 billion dirhams to 300 billion dirhams by 2031.
He added that there are several areas that nations need to focus on for a better future. These include agriculture, water treatment, renewable energies, medicine and health, aluminum and steel. “An export ecosystem focused on global product competitiveness is vital for a stable and growing economy. “