Etihad Credit Insurance and Banking Partners Raise AED 174 Million to Boost SME Growth in UAE

Business

Etihad Credit Insurance and Banking Partners Raise AED 174 Million to Boost SME Growth in UAE

Etihad Credit Insurance (ECI), the UAE’s federal export credit company, announced the successful conclusion of its ‘Xport Xponential’ programme, securing AED 174 million in working capital to support small and medium-sized enterprises (SMEs) in their global expansion efforts. The announcement was made during the programme’s closing ceremony, held under the patronage of H.E. Abdulla Bin Touq Al Marri, UAE Minister of Economy and Chairman of ECI’s Board of Directors.

The funding was raised in collaboration with four key banking partners—First Abu Dhabi Bank, Commercial Bank of Dubai, Ajman Bank, and Al Maryah Community Bank—underscoring the UAE’s commitment to fostering a future-ready, diversified economy led by a vibrant SME sector.

A Vision for Economic Diversification

The ‘Xport Xponential’ initiative aligns with the objectives of the UAE’s “We the UAE 2031” national strategy, which aims to grow non-oil exports to AED 800 billion and expand foreign trade to AED 4 trillion over the next decade. Speaking at the event, H.E. Bin Touq emphasized the programme’s role in enhancing the contribution of SMEs to the national economy and facilitating stronger international trade ties, particularly with countries under Comprehensive Economic Partnership Agreements (CEPA), where trade volumes have already surpassed AED 390.5 billion.

Empowering Global-Ready SMEs

H.E. Raja Al Mazrouei, CEO of ECI, highlighted the importance of the programme in equipping UAE-based SMEs with the financial tools and strategic direction needed to access high-potential international markets. “‘Xport Xponential’ acts as a bridge connecting local businesses with global opportunities,” she said, adding that the programme supports revenue diversification through integrated financial and credit insurance services tailored to mitigate export-related risks.

Since its launch during the third edition of Make It in the Emirates in May 2024, the programme has attracted 42 applicants, of which 10 were shortlisted based on robust evaluation criteria. These companies, which have already generated AED 2.1 billion in combined turnover, are targeting expansion into key markets including Indonesia, India, Saudi Arabia, and Oman, with a collective export potential of AED 31.3 billion over the next four years across ten strategic sectors.

Strategic Banking Support

Executives from the participating banks reaffirmed their commitment to the programme and the UAE’s economic agenda:

Futoon Hamdan AlMazrouei, First Abu Dhabi Bank: “By empowering SMEs with access to working capital and innovative trade finance, we are unlocking global opportunities and reinforcing the UAE’s position as a competitive international trade hub.”
Dr. Bernd van Linder, Commercial Bank of Dubai: “We’re proud to back this initiative, which aligns with our legacy of fostering SME growth and driving economic diversification.”
Mustafa Al Khalfawi, Ajman Bank: “This partnership reflects our support for Ajman Vision 2030 and the UAE’s broader economic goals by offering Sharia-compliant, growth-oriented financial solutions.”
Mohammed Wassim Khayata, Al Maryah Community Bank: “Our commitment to digital, efficient, and scalable financing aligns with ECI’s mission to build global competitiveness among local exporters.”

Growing a National Ecosystem

Implemented with the support of 19 strategic federal and local partners—including the Abu Dhabi Department of Economic Development, Dubai Department of Economy and Tourism, and Sharjah Chamber of Commerce—the ‘Xport Xponential’ programme stands as a model for public-private cooperation. Since its inception, ECI’s partnerships with government and financial institutions have grown by 27%, enhancing access to trade finance and export readiness support.

In addition, ECI hosted a workshop in January 2025 to provide participating companies with practical resources and export guidance. These efforts further demonstrate ECI’s critical role in shaping a resilient, inclusive, and export-driven economy.

To date, ECI has insured AED 21 billion in support of UAE exports and has underwritten premiums amounting to AED 447 million, reinforcing its leadership in enabling the international success of homegrown businesses.