SACE guaranteed a loan of 10 million euro disbursed by Mediocredito Italiano, intended to support strategic investments and business growth processes, a point of reference for consultancy activities for corporate finance, specialized financing, subsidized credit and leasing. The objective of this operation is theexpansion in Türkiye of CRIF, a global company specializing in the development and management of credit information systems, business information and decision support. CRIF today develops projects in more than 40 countries on four continents (Europe, America, Africa and Asia), supporting more than 2.400 banks and financial companies and more than 25.000 companies internationally with its services on a daily basis. CRIF was there first Italian company to have obtained registration at EU level as a Credit Rating Agency, authorized to provide assessments of the creditworthiness of companies based on the application of rigorous quantitative models as well as on the skills and professionalism of its analysts. The loan in question contributes to theacquisition of stakes in four companies incorporated under Turkish law active in the supply of software systems and solutions, reinforcing Crif's internationalization strategy launched in the XNUMXs.
Furthermore, on the occasion of thelast SACE mission in Türkiye, the Italian insurance-financial group also announced 1 bn of new business in Türkiye. SACE today counts in Türkiye on one portfolio of commitments amounting to €1,9 billion, mainly concentrated in the oil&gas, infrastructure and industrial technology sectors. An exposure that makes the Middle Eastern country the second emerging market after Russia in its portfolio, a figure moreover in line with the importance of the Turkish market for Italian companies. Among the new operations currently under consideration are project finance in both the public and private sectors, bank financing or leasing, and a growing number of export credit transactions in favor of SMEs. Supplier credit operations, especially dedicated to the business segmentà smaller companies were the most numerous in 2013, the year in which SACE approved about 700 million new transactions.
Furthermore, in Türkiye, SACE boasts collaboration agreements with theISPAT, the Turkish investment attraction agency which reports directly to the Prime Minister, and with Turk Eximbank, the latter recently completed.
