Abu dhabi: Etihad Credit Insurance (ECI), the UAE's federal export credit company, has facilitated a US$50 million, three-year trade finance agreement for Gerald Metals S rl, the Geneva-based subsidiary of Gerald Group, with Abu Dhabi Commercial Bank (ADCB) acting as the lender. Clyde and Co provided legal counsel to ECI.
According to Emirates News Agency, this transaction highlights ECI's pivotal role in boosting the growth of the UAE's non-oil exports, aligning with the 'We the UAE 2031' agenda. It emphasizes ECI's dedication to fostering sustainable export growth and enhancing the UAE's status as a global trade hub.
The initiative integrates Gerald Group's global trading platform, ADCB's financing capabilities, and ECI's support to promote the export of UAE-origin non-oil commodities. This contributes to the diversification and sustainable expansion of the UAE's export economy. Amid evolving geopolitical circumstances, supply chain realignment, and heightened market volatility, the transaction illustrates the significance of robust collaboration.
Raja Al Mazrouei, Chief Executive Officer of ECI, expressed satisfaction with the partnership involving Gerald Group and ADCB, highlighting the shared commitment to fortifying the UAE's trade finance ecosystem. He emphasized the transaction as a milestone in advancing the country's non-oil export agenda, reflecting the vision of UAE's leadership to diversify and strengthen the national economy.
Patricia Nikolopoulos, Chief Financial Officer at Gerald Group, remarked that the facility is a crucial step in diversifying Gerald Group's funding platform. By securing their first ECI-backed financing, they broaden access to committed liquidity, extend available tenor, and reinforce the resilience of their funding structure. The partnership with ECI and ADCB supports UAE-origin trade flows, enhancing their capability to provide reliable financing and supply chain solutions across global metals markets.
The financing agreement further highlights the strength and sophistication of the UAE's trade finance ecosystem, showcasing effective collaboration between global commodity players, national financial institutions, and export credit solutions in enabling resilient cross-border trade. The transaction also sets a benchmark for innovative, risk-mitigated financing, supporting the ongoing expansion of UAE-origin exports and reinforcing the country's role as a trade hub.
