We’re going to be importing more from the UAE: Abu Dhabi Exports Office (ADEX) is set to extend a USD 100 mn revolving loan to the National Bank of Egypt (NBE) to fund imports from the UAE, the state-run Emirates News Agency(WAM) reports. The financing agreement, which was inked by the two parties yesterday, seeks to boost Emirati exports to Egypt. ADEX is the export finance arm of the Abu Dhabi Fund for Development (ADFD).

What they said: “Our aim is to empower Emirati exporters to expand their international presence,” said ADFD Director General Mohamed Saif Al Suwaidi. “The financing . . . actively contributes to the growth of our national economy and enriches a strategic partnership that enhances trade relations between our two countries.”

That’s the second loan from ADEX in less than a month: ADEX in August provided the government with a five-year USD 100 mn revolving loan to purchase some USD 500 mn worth of wheat from Emirati agribusiness Al Dahra.

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