Dubai: Etihad Credit Insurance will be issuing another 2,000 ‘revolving credit guarantees’ to UAE-based exporters this year, as part of its bid to revive business activity after the COVID-19 induced damage.
The UAE’s trade finance company had provided a similar number of guarantees last year, moving in quickly to help out local export firms who found their cashflows after orders got cancelled or delayed and supplies were disrupted.
The guarantees also serve another purpose – ensure that jobs are not lost at businesses that get the credit lifeline.
“We supported sectors we see as very important - like renewable energy - because they can generate employment,” said Massimo Falcioni, CEO. “We focus on those sectors where employment has to be safeguarded and we do this by protecting the cashflow of companies.”