UAE – Abu Dhabi: Abu Dhabi Exports Office (ADEX) has allocated AED 550 million ($150 million) to finance export transactions of national companies.
This support to export transactions is part of a national campaign launched by ADEX to rebuild the global export business and recover economy amid the coronavirus (COVID-19) outbreak, according to a recent press release.
The director-general of ADFD and chairman of the ADEX export executive committee, Mohammed Saif Al Suwaidi, said: "This is not only a difficult time for UAE exporters, but it’s also a challenging time for their overseas buyers. Both are dealing with liquidity and cash flow issues, delayed supplier payments, and limited access to financing."
Meanwhile, the acting director-general of ADEX, Saeed Al Dhaheri, remarked: "We all share a responsibility to support the financial health and development of our national companies. While today we are talking about economic recovery in the post-COVID-19 period, we are all looking ahead to the Next 50."
