Mubasher TV
Contact Us Advertising   العربية

ADEX offers AED 550m support to export companies

ADEX offers AED 550m support to export companies
The fund will be in the form of buyers credit facilities

UAE – Mubasher: Abu Dhabi Exports Office (ADEX) has allocated AED 550 million ($150 million) to support and recover the UAE national export companies amid the coronavirus (COVID-19) pandemic.

The fund will be in the form of buyers credit facilities to help the national export companies to expand their businesses, according to a press release on Tuesday.

The Director General of Abu Dhabi Fund for Development and Chairman of the Export Executive Committee of ADEX, Mohammed Saif Al Suwaidi, said: "Emerging markets across Africa, Southeast Asia, and around the globe will face greater struggles to access traditional commercial capital markets to fund the import of essential goods and services during this global pandemic. ADEX can provide critical, safe, and secure financial support to help fund transactions with UAE exporters."

Al Suwaidi added: "The ADEX support team will work directly with the UAE exporter and their overseas buyer through every step of the process to help quickly and easily facilitate mutually beneficial transactions."