Official Statement in Response to US Ex-Im US$ 2 Billion Direct Loan Approval


From Mohamed Al Hammadi, Chief Executive Officer:

“The Emirates Nuclear Energy Corporation (ENEC) welcomes the approval of the USEx-Im Board of Directors to provide US$ 2 billion to the UAE peaceful nuclear energy program. This is a very important milestone to meet our objective of announcing a financial agreement in the near term. ENEC is progressing steadily with financial institutions, authorities and regulators to achieve this objective. The construction of four APR-1400 units represents a significant infrastructure project. ENEC’s strategy is to supplement the investment of the Abu Dhabi government with Export Credit Agencies, such as US Ex-Im and commercial banks. We are pleased that a leading international financing institution such as US Ex-Im has thoroughly analyzed the project and concluded that it is safety-driven, technically robust, and is commercially and financially well structured. This investment will create thousands of jobs here in the UAE as well as in the home nations of our suppliers, partners and contractors."