ECI and MIGA Join Forces to Enhance Foreign Direct Investment in Emerging Markets

UAE, 17 October, 2024 : Etihad Credit Insurance (ECI), the UAE Federal export credit company, has signed an agreement with the Multilateral Investment Guarantee Agency (MIGA), part of the World Bank Group, to strengthen cooperation in foreign direct investments (FDI) and enhance co-insurance and reinsurance activities.

The agreement was signed during the Berne Union Annual General Meeting, which began on October 15 in Hamburg, Germany. It aims to leverage the expertise of both parties in investment guarantees and commercial credit, establishing a framework for joint efforts to boost FDIs.

Raja Al Mazrouei, CEO of ECI, emphasized the importance of this partnership in enhancing the resilience and sustainability of the UAE’s economy, in line with the national goals of “We the UAE 2031.” He noted that the agreement opens new avenues for investment projects, promoting trade flows and expanding insurance activities.

Al Mazrouei stated, “This collaboration marks a significant stride in our growth trajectory, providing opportunities for joint investment projects and cutting-edge insurance solutions.” He highlighted the UAE’s strong reputation as a global investment hub, ranking second worldwide for FDI inflows in 2023.

Hiroshi Matano, Executive Vice President of MIGA, expressed that the agreement reflects a commitment to develop innovative financial solutions to attract foreign direct investment in emerging markets and developing countries.

Source : www.zawya.com