Etihad Credit Insurance (ECI), the UAE’s federal export credit company, has signed a Memorandum of Understanding (MoU) with Euler Hermes Aktiengesellschaft, acting for and on behalf of the Federal Republic of Germany, to operate the latter’s official Export Credit Guarantee Scheme. The Memorandum of Understanding sets a framework for a long-term relationship centred on collaborative support and risk mitigation for international export and infrastructure projects.
The MoU, signed by Mohammed Tahlak, Director of Corporate Support at ECI, and Jan-Philipp Apking and Thomas Baum, Members of Executive Management at Euler Hermes, prepares the path for discussions on a comprehensive Reinsurance agreement. The prospective agreement is designed to provide a permanent framework for reinsuring export credit risks associated with transactions between UAE and German suppliers, as well as potential cooperation in third-country markets.
Under the proposed framework, ECI and Euler Hermes may identify and investigate export credit transactions that are eligible for collaboration. Individual transactions will be examined on a case-by-case basis, taking into account each party’s product portfolio, eligibility requirements, risk assessment criteria, and applicable international standards.
The deal comes at a time when the Gulf area is becoming increasingly strategic for export credit guarantees. In 2025, Germany’s official Export Credit Guarantee Scheme supported projects and contracts totalling around EUR 1.4 billion across the region, nearly double the amount reported the previous year.
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