New MoU between Ministry of Industry and Advanced Technology and Etihad Credit Insurance offers financing options

New MoU between Ministry of Industry and Advanced Technology and Etihad Credit Insurance offers financing options

The Ministry of Industry and Advanced Technology (MoIAT) and Etihad Credit Insurance (ECI), the UAE federal export credit company, recently signed a Memorandum of Understanding (MoU) to offer a package of financial incentives to support UAE exports, offer financing facilities for manufacturers and advanced technology projects, guarantees for industrial loans, an umbrella insurance for small and medium enterprises (SMEs), and assistance in securing intellectual property rights for startups.

As part of the partnership, the Ministry seeks to promote ECI’s trade solutions including trade credit insurance, trade finance, export finance, project finance, loan repayment, equity insurance for startups and micro-SMEs, and ‘Click & Cover’ online solution for SMEs – through the Make it in the Emirates campaign. ECI will contribute to attaining Operation 300bn’s goal of enhancing the competitiveness of UAE industrial companies in international markets.

The collaboration will also involve other financial institutions and development banks in improving the current offerings and developing innovative products that meet the needs of the industrial and advanced technology sectors.