UAE and Italy’s export credit agencies explore joint financing for sustainable projects

Export credit agencies in the United Arab Emirates and Italy are exploring options to jointly support sustainable development projects and extend trade finance to small and medium-sized businesses, as well as businesses in the halal market.

The two sides are also exploring ways to stimulate the flow of goods, services and investment between the two markets by providing trade credit insurance and guarantees to protect exporting companies, investors and financial institutions against political risks. and commercial.

The decision of Etihad Credit Insurance (ECI), the United Arab Emirates’ federal export credit agency, and SACE, the Italian export credit company, is in line with the national strategies of both countries, has ECI said in a statement Monday.

An Italian delegation led by SACE Director General Pierfrancesco Latini met with ECI chief Massimo Falcioni on Monday to discuss collaboration on co-insurance and reinsurance opportunities.

The meeting followed a first agreement between the ECI and SACE signed three years ago, which laid the framework to encourage business development opportunities between the two countries.

Increased cooperation between the two bodies will increase the “competitiveness of the trading and export enterprises of the two countries,” Falcioni said.

The organizations also discussed the opportunities in supporting sustainable development projects and jointly offering Islamic and sustainable funding to help the two countries achieve their sustainability goals.

“Italy and the United Arab Emirates have a similar vision of placing sustainable development at the heart of their global agenda,” said Mr. Latini of SACE. “Green projects will receive a major boost” with the support of both organizations, he added.

“Through this alliance, we are determined to help Italian and UAE companies access sustainable financing, which will pave the way for… responsible trade and investment opportunities between the two countries.”

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