ADEX inks $100mln of line credit deal with Egypt’s NBE

Abu Dhabi Exports Office (ADEX) has signed a revolving loan facility of $100 million with the National Bank of Egypt (NBE) to support transactions involving UAE exports to Egypt, Emirates News Agency (WAM) reported on Wednesday.

This initiative aims to strengthen economic activities and encourage cross-border trade relations, further enhancing the already fruitful trade landscape between the UAE and Egypt.

Moreover, the agreement reinforces the trade and economic relations between the two countries and showcases their commitment to mutual prosperity and growth, the report mentioned.

The collaboration aligns with ADEX’s leadership vision that demonstrating its dedication to strengthening national exports, Mohamed Saif Al Suwaidi, Chairman of the Exports Executive Committee at ADEX.