DP World Trade Finance goes global after $400m debut year
- Date: 20-Feb-2024
- Source: AGBI
- Sector:Financial Services
- Country:UAE
DP World Trade Finance goes global after $400m debut year
DP World Trade Finance has revealed plans to expand into Turkey this year before opening in a number of other countries. Working with Etihad Credit Insurance (ECI), the platform, which launched last year in the UAE, India and South Africa, has already financed more than $400 million of non-oil-based trade. Giving borrowers access to finance, […]
Platform matches borrowers and lenders
58,000 registered companies
SMEs ‘significant portion’ of transactions
DP World Trade Finance has revealed plans to expand into Turkey this year before opening in a number of other countries.
Working with Etihad Credit Insurance (ECI), the platform, which launched last year in the UAE, India and South Africa, has already financed more than $400 million of non-oil-based trade.
Giving borrowers access to finance, it helps lenders assess companies by providing data, visibility and transparency on transactions across the world.
This allows them to analyse areas of potential risk and identify the viability of new businesses.
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Sinan Ozcan, senior executive officer at DP World Financial Services, previously said he would like to see $5 billion worth of direct and indirect trade financing by 2027.
“Hopefully