ATFP funds deals worth $387 million

abu dhabi — The Board of Directors of the Arab Trade Financing Programme (ATFP) held its 111th meeting at its headquarters in Abu Dhabi today, presided over by Dr Abdulrahman bin Abdullah Al Humaidi, chief executive and chairman of the Board of ATFP.

The board reviewed the funding activity during the second quarter of 2017 and approved 118 requests for the funding of trade deals valued at $387 million. The total size of funding that it agreed to provide to its national agencies in all the Arab countries reached $521 million in the first half of this year.

The board took note of all the new developments during this period related to the cooperation and co-ordination with regional and international financial institutions to participate in the expansion of the funding tools provided in the Arab trade service.

The board demonstrated the activity of other trading services provided by the programme for exporters and importers in Arab countries. It also took note of the latest developments of the work in the Intra-Arab Trade Information Network, IATIN, and the efforts being made currently to update the database available on ATFP’s website: atfp.org.ae.

Within the framework of promoting Arab trade, the board reviewed the efforts to develop the promotional activity and viewed a report about the performance of investment portfolios for ATFP’s funds for the second quarter of 2017, as well as the financial data of the six-month period, which ended on 30th June, 2017. It also discussed other topics and took the appropriate decisions. — Wam