Saturday 31 October 2020 - 6:11:01 am

UAE to support exporters, businesses facing payment and supply chain disruption due to COVID-19


DUBAI, 12th April, 2020 (WAM) -- The UAE’s federal export credit company, Etihad Credit Insurance, ECI, is supporting UAE exporters and businesses facing payment and supply chain disruption concerns due to COVID-19 with a range of services that will help them navigate these economic times.

ECI provided guarantees and insurance solutions to mitigate the political and commercial risks arising from financing or refinancing export transactions, on behalf of the UAE government, helping ease the pressure caused by the global spread of COVID-19, the company said in a press release on Sunday.

To help mitigate the uncertainty of exporting to other countries, ECI offered financial support to domestic companies' international export operations and other activities.

It also encouraged exporters based in the UAE to take the benefits of ECI advisory solutions that help in finding alternative suppliers globally.

Massimo Falcioni, CEO of ECI, commented, "ECI has the expertise and knowledge to support UAE-based companies exporting to different parts of the world. We have been partnering with banks and intermediaries since 2018 to help UAE businesses of all sizes fulfil and get paid for export contracts and ease access to export funding."

"For exporters and businesses that are concerned about getting paid, ECI offers an export credit insurance solution that can help them recover the cost of fulfilling an order that is terminated by events outside their control, such as the adverse impacts of COVID-19," he added.

The UAE’s federal export company has a global network of businesses worldwide and can assist in advising on available options and connect UAE exporters to alternative suppliers to sustain their trade operations in the international markets.

WAM/Rola Alghoul/Hassan Bashir