Cassa Depositi e Prestiti (Cdp) signed a Memorandum of Understanding with the Albanian National Economic Council to promote the sustainable development of the territory and local SMEs. The objective is to recognize the role of CDP in Albania as an Italian Financial Institution for International Development Cooperation.
The signing took place during a visit to Tirana by a delegation from Cassa Depositi e Prestiti led by the CEO of Cdp Dario Scannapieco and by the CEO of Simest, Regina Corradini D'Arienzo during which they met the Albanian Prime Minister Edi Rama, the Minister for Entrepreneurship Delina Ibrahimaj, the Minister of Finance Ervin Mete and the Deputy Minister of Tourism and Environment Vilma Bello. The meetings were an opportunity to illustrate the strategy that CDP intends to pursue to support the country's public and private sector in favor of sustainable and inclusive growth.
Identify common areas for sustainable development projects
The agreement provides for theidentification of areas of common interest to finance projects in Albania in order to achieve the objectives of Sustainable Development of the United Nations, with particular attention to the positive impact on the climate. They will be develop joint initiatives to encourage collaboration between SMEs, using the financial tools of Cdp and Simest, including support through the Business Matching platform. The agreement also aims to support bilateral investments and share information on opportunities in sectors of mutual interest.
Supporting businesses in emerging economies
The visit to Tirana is part of the Cassa Depositi e Prestiti strategy for strengthen support for sustainable growth initiatives of businesses in emerging economies. This strategy includes opening up new representative offices, like the one inaugurated in Belgrade in the offices of Banca Intesa Beograd.
Other openings are expected in the coming months, with offices in North Africa, specifically in Cairo, Egypt and Rabat, Morocco.
“The protocol signed with the National Economic Council – he declared Dario Scannapieco, Chief Executive Officer of CDP – is a first step in a significant process that will allow Cassa Depositi e Prestiti to operate in Albania as an Italian Financial Institution for International Development Cooperation and contribute to the sustainable growth of an economy that is going through a phase of great vitality. After the inauguration of our Belgrade office, this is another important moment in our work in the Western Balkans which also sees a new concrete act in the financing granted to Intesa Sanpaolo Bank Albania to support SMEs in the area".
“The ties between Italy and Albania – added Regina Corradini D'Arienzo, CEO of Simest – are close, not only due to geographical proximity but also due to a substantial similarity in the composition of the industrial context. Simest is already present in the Western Balkans, offering businesses its range of products, from subsidized finance to participatory investments and strategic consultancy. With today's signature, we undertake to strengthen our activity in the country, in order to facilitate new opportunities for cooperation with the production sector and to consolidate commercial relations between Italian and local companies".
Financing of 10 million with Intesa Sanpaolo Bank Albania
Cdp also signed a financing contract of 10 million euros with Intesa Sanpaolo Bank Albania which will potentially activate resources of up to 20 million. The objective is to support the growth of Albanian SMEs active in sectors with a high environmental, social and governance (ESG) impact through financing on advantageous conditions. Intesa Sanpaolo Bank Albania – subsidiary of the Intesa Sanpaolo Group in Albania and among the major banks in the country – is the only Italian bank operating in the country.
Cassa Depositi e Prestiti, as part of theWestern Balkans Investment Framework initiative promoted by the European Union, made funds available intended by Intesa Sanpaolo Bank Albania in favor of growth of Albanian small and medium-sized businesses through direct loans with advantageous interest rates.
The initiative will allow support at least 50 local businesses and will contribute to the creation of new jobs and the achievement of five United Nations Sustainable Development Goals (SDGs).
“The agreement signed by Intesa Sanpaolo Bank Albania – under the guidance and coordination of the International Subsidiary Banks Division – allows us to further improve the offering of services for SMEs and testifies to the Intesa Sanpaolo Group's commitment to supporting the Albanian economy and Italian companies interested in the business opportunities that the country and the Western Balkans area can offer. I am sure that our collaboration with CDP in Albania will further contribute to activating new opportunities and synergies, within the framework of the solid strategic relationship between Intesa Sanpaolo and the network of Italian institutions, such as CDP, Sace and Simest, which operate at the service of the internationalization process of Italian companies and for the development of local economies" he commented Marco Elio Rottigni, Chief International Subsidiary Banks Division of Intesa Sanpaolo.
Last update at 16,48pm
