The agreement marks a milestone in ADEX's ongoing efforts to strengthen cooperation with Egypt and other countries. Image Credit: Supplied

Abu Dhabi: Abu Dhabi Exports Office (ADEX) has signed a financing agreement with the National Bank of Egypt (NBE), it was announced on Wednesday. 

Under the terms of the agreement, a revolving loan facility of $100 million has been established, with the primary aim of supporting transactions involving UAE exports to Egypt. This initiative seeks to bolster economic activities and promote cross-border trade relations between the two nations.

“The agreement with the National Bank of Egypt aligns with our leadership’s vision, demonstrating its dedication to strengthening national exports,” said Mohamed Saif Al Suwaidi, Director-General of ADFD and Chairman of the Exports Executive Committee of ADEX. “Our aim is to empower Emirati exporters to expand their international presence and enhance their competitiveness on a global scale, thus increase their contribution to the economy.”

The Abu Dhabi Exports Office extends loans and guarantees to Emirati exporters to enhance their contributions to the economy and foster their global expansion.