Export Companies to Receive AED 550 Million Assistance from ADEX

Abu Dhabi Exports Office (ADEX) has dedicated AED 550 million (USD 150 million) to assist and restore United Arab Emirates' (UAE)  local export companies in the aftermath of the COVID-19 pandemic.

According to a press release, this support fund will be in the form of buyers’ credit facilities, to assist local exporters to expand their businesses.

Mohammed Saif Al Suwaidi, the Chairman of ADEX and Director General of Abu Dhabi Fund for Development, stated that ADEX can provide necessary financial assistance to help finance transactions with the UAE exporters. He noted that this would be required as many of the emerging economies throughout Africa, Southeast Asia and across the g...