Abu Dhabi Exports Office (ADEX), the export-financing arm of Abu Dhabi Fund for Development (ADFD), has signed a $100 million financing agreement with the National Bank of Egypt (NBE) to boost trade and economic relations between the UAE and Egypt.
The partnership solidifies the longstanding bond between the two nations and showcases their commitment to mutual prosperity and growth. The $100 million loan facility will be used to support transactions involving UAE exports to Egypt.
“The financing extended by ADEX represents a significant stride forward – a mission that actively contributes to the growth of our national economy and enriches a strategic partnership that enhances trade relations between our two countries,” said Mohamed Saif Al Suwaidi, the Director General of ADFD and chairman of the Exports Executive Committee of ADEX.
Source: ArabyaCapital
