Abu Dhabi Fund for Development (ADFD) has appointed South Korea’s Korean Development Institute (KDI) to study the feasibility of a UAE-based export finance programme.

According to Mohammed Saif al-Suwaidi, ADFD director general, the study will establish the necessity of an export finance programme in line with boosting the UAE’s future exports and foreign trade as well as for advancing sustainable development in the country.

The study will focus on examining relevant data, analysing non-oil exports, understanding applicable policies and procedures, and reviewing the capabilities of private and public sector financial institutions in the UAE, ADFD said in a statement.

The cooperation agreement started with KDI conducting a seminar on national export finance programme attended by 10 federal and local agencies.

State-owned ADFD has financed projects and invested roughly AED80bn ($21.8bn) across 83 countries since its founding in 1979.