May 5, 2020 / 8:07 AM / a month ago

BRIEF-Abu Dhabi Exports Office Allocates AED 550 Mln To Support UAE Exports From National Companies

May 5 (Reuters) - ABU DHABI EXPORTS OFFICE:

* LAUNCHES A NATIONAL CAMPAIGN TO HELP BUSINESS LEADERS USE FINANCIAL PRODUCTS AND SERVICES TO REBUILD GLOBAL EXPORT BUSINESS AND HELP ECONOMY RECOVER FROM COVID-19 CRISIS

* ALLOCATES AED 550 MILLION ($150 MILLION) IN FUNDING FOR QUALIFYING EXPORT TRANSACTIONS OF NATIONAL COMPANIES THAT IS IMMEDIATELY AVAILABLE TO SUPPORT COVID-19 ECONOMIC RECOVERY

* MOVE WILL HELP UAE’S EXPORT COMMUNITY TO BE MORE COMPETITIVE IN GLOBAL MARKETPLACE WHILE SAFELY AND SECURELY EXPANDING INTO INTERNATIONAL MARKETS, WHERE OVERSEAS BUYERS HAVE LIMITED ACCESS TO TRADITIONAL COMMERCIAL FINANCING IN CURRENT COVID-19 ECONOMIC ENVIRONMENT

* AS SOON AS A QUALIFIED OVERSEAS BUYER CERTIFIES SUCCESSFUL COMPLETION OF AN ADEX-FUNDED TRANSACTION, ADEX WILL MAKE PAYMENT DIRECTLY TO UAE NATIONAL COMPANY

* ADEX IS CURRENTLY WORKING WITH OTHER CHAMBERS OF COMMERCE AND GOVERNMENT PARTNERS ACROSS EMIRATES TO SCHEDULE ADDITIONAL EDUCATION FORUMS TO ENSURE ALL UAE COMPANIES KNOW HOW TO ACCESS ITS FINANCIAL PRODUCTS AND SERVICES ($1 = 3.6730 UAE dirham)

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