By Staff Reporter
Etihad Credit Insurance (ECI) has raised AED 174 million in working capital through its flagship ‘Xport Xponential’ programme, marking a major step in supporting the global expansion of UAE-based small and medium-sized enterprises (SMEs).
The funding, secured in collaboration with four banking partners, was announced at the programme’s official closing ceremony.
Backed by First Abu Dhabi Bank, Commercial Bank of Dubai, Ajman Bank, and Al Maryah Community Bank, the initiative aims to strengthen the UAE’s non-oil economy by giving SMEs the financial tools to compete globally. The programme aligns with the country’s ‘We the UAE 2031’ strategy, which targets AED 800 billion in non-oil exports and AED 4 trillion in trade volume over the next decade.
Minister of Economy and ECI Chairman Abdulla Bin Touq Al Marri hailed the initiative as pivotal in enhancing the role of SMEs in the UAE’s economic diversification efforts. ECI CEO Raja Al Mazrouei echoed this, emphasizing the programme’s role in connecting local businesses with international buyers and enabling export readiness through trade finance and insurance solutions.
Launched in May 2024 during the ‘Make It in the Emirates’ forum, Xport Xponential shortlisted 10 SMEs from 42 applicants. These companies, which have generated AED 2.1 billion in revenue, are now eyeing expansion into Indonesia, India, Saudi Arabia, and Oman—markets with a combined export potential of AED 31.3 billion across ten sectors.
Implemented with 19 strategic public and private partners, the programme has spurred a 27% increase in ECI’s institutional collaborations, underlining its growing role in creating a resilient export ecosystem.
News Source: Emirates News Agency
