ECI announces AED 174m for SME growth in partnership with leading banks

Etihad Credit Insurance (ECI), the UAE’s federal export credit company, recently celebrated the achievements of its flagship initiative, the ‘Xport Xponential’ programme, marking a major milestone in its mission to empower the country’s small and medium-sized enterprises (SMEs). At the heart of the celebration was the programme’s success in raising AED 147m (US$47.38) in funding to support SME growth—achieved through collaboration with key banking partners including First Abu Dhabi Bank, Commercial Bank of Dubai, Ajman Bank, and Al Maryah Community Bank.

The closing ceremony, held under the patronage of Abdulla Bin Touq Al Marri, Minister of Economy and Chairman of ECI’s Board of Directors, symbolized a significant step towards the UAE’s broader goal of building a flexible and innovation-driven economy. The programme, launched during the 2024 ‘Make It in the Emirates’ forum, was designed to help SMEs scale internationally, aligning with the ‘We the UAE 2031’ national strategy that aims to increase non-oil exports to AED 800bn (US$218bn) and expand foreign trade volume to AED 4tn (US$1.1tn) over the next decade.

The impact of ‘Xport Xponential’ has been far-reaching. It has enabled SMEs to access critical working capital, easing their path into global markets. With 42 companies applying and 10 selected after a rigorous vetting process, the initiative demonstrated a high standard for export readiness. These shortlisted companies, with a combined turnover of AED 2.1bn (US$0.6bn), are now preparing to enter strategic markets such as India, Indonesia, Saudi Arabia, and Oman—together representing an export potential of AED 31.3bn (US8.5bn).

Raja Al Mazrouei, CEO of ECI, underscored the strategic importance of the programme. She described it as a platform that not only connects local businesses with global importers but also provides essential financial and insurance tools to mitigate export-related risks. The programme reflects the UAE’s long-term vision to diversify its economy and reduce dependency on oil revenues.

The banking partners played a crucial role in bringing this vision to life. First Abu Dhabi Bank emphasized its dedication to a future-ready economy, supporting SMEs through innovative trade finance. Commercial Bank of Dubai echoed this sentiment, highlighting its legacy in backing the UAE’s economic transformation. Ajman Bank brought a Sharia-compliant financing perspective to the programme, aligning with national strategies like Ajman Vision 2030. Meanwhile, Al Maryah Community Bank contributed with fully digital and streamlined solutions tailored for exporters, reinforcing the role of technology in global competitiveness.

The programme was further bolstered by the support of 19 strategic partners, encompassing both federal and local economic entities. This unified effort facilitated consistent backing for SMEs, evidenced by ECI’s 27 per cent increase in public-private partnerships since the programme’s inception. Additionally, a dedicated workshop held in January 2025 provided participating companies with practical resources to accelerate their export journeys.

By integrating innovative finance, risk mitigation, and strategic collaboration, ‘Xport Xponential’ stands as a testament to the UAE’s commitment to economic diversification and global trade expansion.