ADFD raises support for UAE exports by 33.3% to Dh735m

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The Abu Dhabi Fund for Development (ADFD) increased support for UAE exports with an allocation of Dh735 million (($200m) in 2021 to spur economic diversification, support local companies with more export financing options and attract buyers in target economies.

ADFD approved a 33.3 per cent year-on-year increase, or an additional Dh184m, in the budget allocated to the Abu Dhabi Exports Office (Adex), the Abu Dhabi Government Media Office (ADGMO) said in a statement on Sunday.

The funds will be used to directly support transactions with overseas buyers of UAE-origin goods and services while boosting the national export economy.

“National export companies can leverage the financial support and protection of Adex to grow their international operations at a time when overseas buyers continue to face supply chain disruption and liquidity challenges,” Mohammed Saif Al Suwaidi, director general of ADFD and chairman of Adex’s executive committee, said.

More to follow…

Published: March 28, 2021 12:03 PM