Abu Dhabi agrees Export Credit for Iraq

By John Lee.

The Abu Dhabi Exports Office (ADEX) has reportedly signed a line-of-credit agreement worth AED36.7 million (US$10 million) with the National Bank of Iraq (NBI).

According to WAM, the financing agreement was signed virtually by Khalil Al Mansouri, Acting Director-General of ADEX, and Ayman Abu Dhaim, CEO of the National Bank of Iraq.

It will allow ADEX, the export-financing arm of Abu Dhabi Fund for Development (ADFD), to facilitate lending to importers in Iraq to buy goods and services from Emirati exporters.

NBI is part of Jordan's Capital Bank Group.

(Source: WAM)

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