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Monday, April 22, 2024

UAE Export Boost with ADEX

ADEX, Mashreq, and ADCB partner with BGN for a $100 million financing facility to boost UAE energy exports. The agreement includes a syndicated revolving credit line with regional bank contributions. The initiative aims to strengthen the UAE’s export sector and support local businesses in expanding globally. This strategic collaboration underscores efforts to drive economic growth through partnerships in the energy and commodities market. The signing event was attended by key officials from ADEX, BGN, ADCB, and Mashreq Bank. ADFD’s Director-General emphasized the potential of the UAE’s advanced energy sector. BGN’s CFO highlighted the importance of financing for their expanding trading activity. ADCB’s Group Chief Business Officer expressed pride in facilitating UAE commodities’ global reach.

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