Arab Trade Financing Program Approves 31 Financing Requests worth US $181 Million

Jerusalem, 14 December, 2022 (TPS) -- ABU DHABI, 14th December, 2022 (WAM)
The board of the Arab Trade Financing Program (ATFP) held its 132nd meeting today, chaired by Dr. Abdulrahman A. Al Hamidy Chief Executive Chairman of the Board of the Program.

During the meeting, the board discussed the program’s financing activities in the second quarter of 2022 and approved 31 financing applications worth US$181 million.

It also talked about the provision of non-financed credit facilities by ensuring the commitments of national agencies for qualified Arab trade deals, in cooperation and coordination with regional and international financial institutions, and ways of expanding and diversifying financing tools to serve Arab trade, as well as other trade services provided by the program to exporters and importers in Arab countries.

The board then reviewed a report on the performance of the investment portfolios of the program’s funds and financial statements from the end of the third quarter of 2022.

The board approved the program’s action plan and forecasted 2022 budget, discussed various other issues and took appropriate decisions regarding them, and invited the program’s shareholders to their 33rd annual ordinary meeting.