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Piano Mattei: SACE new agreements to support trade relations with Egypt
On the sidelines of the Egypt-EU Investment Conference, SACE, Italy’s Export Credit Agency and insurance financial group has finalized two agreements, with the Ministry of Transports of Egypt and with the Commercial International Bank respectively, to support mutual growth opportunities between Italy and Egypt in the framework of Piano Mattei.
The Memorandum with the Ministry of Transportation – signed by H.E. Minister Lieutenant General Kamel El-Wazir and SACE Chief International Business Officer Michal Ron - is aimed at supporting climate-friendly and green impact transportation projects in Egypt as well as facilitating Italian exports and supplies, through export credit insurance and guarantee programs up to € 800 million.
The Memorandum with the Commercial International Bank (CIB), leading private commercial bank in Egypt, is aimed at reinforcing mutual cooperation and creating dedicated programs, also through export credit facilities, for specific sectors and projects up to € 120 million. The agreement has been signed by Omar El-Husseiny Head of Treasury Group and Michal Ron.
Those initiatives reinforce SACE commitment in the area to create connections and facilitate business & development opportunities, maximizing the positive impacts for the Communities involved, both in Italy and Egypt.
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