ECI highlights empowerment of Emirati women in economic sectors

Gulf Today, Staff Reporter

Etihad Credit Insurance (ECI), the UAE’s federal export credit company, participated in TXF Global 2024 conference, organised by Exile Group in Athens, Greece. During the conference, Raja Al Mazrouei, CEO of ECI, highlighted the company’s dedication to aligning its strategies with both national and international climate goals as well as reinforcing the role of Emirati women in local, regional, and global trading, investment and business communities.

Al Mazrouei participated in two major discussions titled ‘A Modern Delian League: Reviewing the Net-Zero Export Credit Agencies Alliance (NZECA)’ and ‘Council of Athena: The Woman in Export & Infrastructure Finance (WEXIF).’

During the first session, Al Mazrouei highlighted the relevance of ECI’s membership in the Net-Zero Export Credit Agencies Alliance (NZECA) and its pivotal role in supporting the company’s policies with the UAE’s Net Zero by 2050 strategic initiative. Furthermore, she said, “This move has provided ECI with seamless access to a global network of expertise and resources, enabling the alignment of our strategies with both national and international climate targets.”

Al Mazrouei added, “ECI has joined various initiatives and established partnerships that support the adoption renewable energy and implementation of sustainability projects, including the Africa Green Investment initiative (AGII) and our partnership with Masdar. These efforts come in line with the United Nations Sustainable Development Goals (SDGs), particularly those focusing on Affordable and Clean Energy, Industry, Innovation and Infrastructure, and Climate Action.” She further pointed out the positive impact of ECI’s membership in the alliance, while shedding light on the ways it can reinforce cooperation with other export credit agencies and increase its capacity to contribute to the efforts to attain climate targets.

Additionally, Al Mazrouei emphasised the company’s vital efforts and contributions towards global climate goals, such as the 2030 Sustainable Development Agenda and the Paris Agreement, even though it was established recently. Commenting on the Africa Green Investment Initiative (AGII) and its results in improving sustainability of the continent,  Al Mazrouei said, “Launched by the COP 28 Presidency at the Africa Climate Summit as part of Union Program 7 by the UAE, AGII’s efforts aligns with the targets of NZECA Alliance. With Africa50 as a key partner, it seeks to raise $4.5 billion from renowned climate action companies in the UAE, including Masdar, the Abu Dhabi Fund for Development, AMEA Power and ECI.”

In this context,  Al Mazrouei emphasised the company’s critical role, especially noting its commitment to contribute $500 million by offering cutting-edge NZECA business solutions and facilitating joint efforts between the initiative’s partners and stakeholders, which include private financiers, institutional investors, development banks, nonprofit organisations, export credit agencies and technical experts. This supports in financing for ambitious green projects in the African continent, signifying the company’s commitment to support the NZECA Alliance’s objectives of lowering carbon emissions and boosting climate resilience.

During  Al Mazrouei’s participation in the second session titled ‘Council of Athena: The Woman in Export & Infrastructure Finance (WEXIF),’ she gave a comprehensive presentation focusing on the empowerment of Emirati women in the economic sectors and their distinguished presence in the business, investment and trade communities at the local, regional and international levels. She further complimented the UAE’s innovative approach to advancing women’s status in the corporate world and providing chances that are equitable and gender balanced.

 Al Mazrouei said, “The UAE is dedicated to realising the fifth sustainable development goal of the UN, which is gender equality. The UAE Gender Balance Council’s role is essential in advancing these efforts and advocating legislation and projects that promote women’s equal access to all sectors, including We-Fi Initiative, which seeks to support women entrepreneurs and broaden their access to financial goods and services.”

The two sessions also witnessed the participation of Magnus Montan, Chief Executive Officer of Swedish Export Credit Corporation (SEK); Peter Boeskov, Chief Commercial Officer, Large Corporates, Denmark’s Export and Investment Fund (EIFO); Elena Koritchenko, NZECA Secretariat, United Nations Environment Programme Finance Initiative; Carl Burlock, Executive Vice-President and Chief Operating Officer of Export Development Canada (EDC); Nanette Bubik, Head of Export Finance, Landesbank Baden-Wurttemberg (LBBW); John Meakin, Global Head of Export and Agency Finance, JP Morgan. The conference also witnessed the active participation of the world’s renowned industry experts and representatives of major export credit companies and banks.