To strengthen the infrastructure

The UAE and the United Kingdom support the "Emergency Response" project in Senegal with 540 million dirhams

Thani Al Zeyoudi: "The UAE is keen to engage in outstanding projects that change the lives of hundreds of thousands of individuals."

ECI and the British Export Finance Corporation have announced their joint support for a major project in Senegal to strengthen infrastructure and emergency response.

Under the REDCO Senegal project, emergency services of firefighting vehicles, airport fire and rescue vehicles, ambulances, medical vehicles, rescue boats, water trailers, cranes with cargo trucks and other safety equipment will be supplied and built in Senegal.

The value of the project financed by Standard Chartered Bank is 540 million dirhams, with partial direct lending by the British Export Finance Corporation.

The re-insurance of the project will be supported by the Union Export Credit Company and the British Export Finance Corporation together, under a reinsurance agreement signed between the two agencies, where the value of the ECI contribution is 334 million dirhams.

The two export credit agencies for the loan, obtained by the Senegalese Ministry of Economy, Planning and Cooperation, also provided guarantees that provide protection to the lending parties, as emergency services equipment will be provided by “NAFFCO”, a leading Emirati company in the production and supply of firefighting products and fire protection engineering.

The trade finance support for this project is in line with the objectives of the Export Credit Union to enhance exports of products and services made in the UAE as part of the 300 billion project, which aims to develop the industrial sector in the UAE and enhance its role in stimulating the national economy.

Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade and Vice Chairman of the Board of Directors of Etihad Export Credit Company, said, “The long-term bilateral relationship between the UAE and the United Kingdom is built on the shared vision of both countries to promote sustainable development and economic prosperity around the world.

The UAE is keen to engage in such distinguished projects that would change the lives of hundreds of thousands of people.”

He added that "the new agreement is part of the state's continuous commitment to developing key sectors such as emergency services, health care, environment and technology," noting that this cooperation is based on an effective framework for partnership between the public and private sectors, which will also provide great investment opportunities for Emirati companies in the field of sustainability. .

UK Exports Secretary Mike Freer said: “The UK is playing a leading role in the export of fire safety equipment.

Under this deal, British expertise will be combined with the UAE's proactive activity to better protect communities abroad, and demonstrate how joint government initiatives can help companies export their best products and services.

strategic vision

Massimo Falcioni, CEO of ECI, said: “Our cooperation with the British Export Finance Corporation to support the emergency services sector in Senegal reflects the strategic vision of the UAE and the message of rational leadership to achieve sustainable development in the world.

This type of partnership opens many opportunities for the UAE, the UK and Senegal to explore joint ventures that will help local entrepreneurs and exporters access international markets while securing their dues.

The presence of Emirati companies in the global arena will enhance the country’s position as one of the most convenient business centers for trade and business.”

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