Abu Dhabi-based Union National Bank (UNB) has received a US$45mn line of credit from the Arab Trade Financing Programme (ATFP) to encourage UAE foreign trade.

The deal was signed on October 7, between Jassim Al Mannai, chief executive chairman of the ATFP board, and Mohamed Naser Abdeen, UNB’s CEO.

The ATFP was established in 1989 and aims to develop and encourage Arab trade while increasing the competitive capabilities of Arab producers and exporters. ATFP also helps its members to access support for their trade transactions, including pre-export credits, post-shipment credits, buyers’ and import credits.