The UAE Federal export credit company Etihad Credit Insurance (ECI) announced on Tuesday that it has signed a Memorandum of Understanding (MoU) with Chinese Artificial Intelligence of Things (AIoT) solution provider Terminus Group to strengthen the company’s trade-related digital infrastructure projects in the UAE and its expansion into new markets.
Terminus Group, part of state-owned China Everbright Group, was an official premier partner of Expo 2020 Dubai, for which it deployed more than 150 programmable robots, including Expo 2020 mascot Opti.
The MoU, signed by Massimo Falcioni, CEO of ECI, and Lance Wang, Vice President of Terminus Group, will facilitate the creation of bespoke credit insurance solutions in order to enhance the bankability of Terminus Group’s digital infrastructure projects in the UAE and upcoming projects in the MENA region, ECI said in its press statement
ECI will initially provide trade credit insurance to safeguard Terminus Group’s receivables, and aim to provide medium and long-term solutions such as buyer credit/project finance insurance and foreign investment insurance to guarantee Terminus Group’s project development, the statement noted. It said ECI’s insurance coverage would also be accessible to mother company China Everbright Group.
Terminus Group has entered into a long-term lease agreement at District 2020.
(Writing by SA Kader; Editing by Anoop Menon)