ADEX and EBID sign financing agreement to boost UAE exports to West Africa

ADEX and EBID sign financing agreement to boost UAE exports to West Africa

Abu Dhabi – Abu Dhabi Exports Office (ADEX), the export-financing arm of Abu Dhabi Fund for Development (ADFD), has signed a financing agreement with the ECOWAS Bank for Investment and Development (EBID), whereby a line of credit of US$20 million will be opened between the two entities that will enhance strategic cooperation, leading to an increase in the volume of trade between the UAE and ECOWAS member states. The agreement also supports the establishment of additional credit lines and the provision of easier means for joint financing, thus boosting Emirati exports in the African market.

The agreement was signed virtually by Khalil Al Mansoori, Acting Director General of ADEX, and Dr. George Agyekum Donkor, President and Chairman of the Board of Directors of EBID. H.E Mohamed Saif Al Suwaidi, Director General of Abu Dhabi Fund for Development (ADFD) and Chairman of the Exports Executive Committee of Abu Dhabi Exports Office (ADEX) and H.E Khalifa Abdullah Al Qubaisi, Deputy Director General of ADFD, were present at the event, alongside other officials from both sides.

During the ceremony, Al Suwaidi said: “The agreement signed with the ECOWAS Bank for Investment and Development underscores ADEX’s effort to support the UAE in developing the export sector,