A task force made up of Abi, Cassa Depositi e Prestiti, Sace and Simtest has finalized an agreement aimed at enhancing financial support to Italian exporting companies to strengthen their international competitiveness.
The agreement provides for an extension until 6 April 2013 of the “Export Banca” Agreement initially financed with 2 billion from Cassa Depositi e Prestiti and guaranteed by Sace. The agreement has the purpose of promoting the internationalization and exports of Italian companies.
In addition to the intervention of Simest, through methods currently being defined, the new agreement also provides for the expansion of the "system's range of action".
The following will be included: "supplier credit" operations in addition to those of "buyer credit" already envisaged, joint operations with Italian or foreign banks, for the portion and/or maturities not covered by them; the refinancing of existing operations and the initiation of operations denominated in dollars.
To date, two operations have been financed through the Convention for a total of 800 million euros, while another three are in the final phase of the process. The objective of the signatories of the agreement is the financing of at least 40 operations for a value of approximately 9 billion, fully guaranteed by Sace and half covered by CDP.
The transactions mostly consist of "buyer credits" and are denominated in euros, while the main sectors are petrochemical, infrastructure, mechanical and metallurgical.
The press release is available at the following address.
