Intesa Sanpaolo signs agreement to support Italian SMEs in China

Italy’s Intesa Sanpaolo has signed an agreement with Servizi Assicurativi del Commercio Estero (Sace) allcoating €100m to support Italian SMEs business development in China.

Intesa Sanpaolo and Sace have agreed to support the export and internationalization projects in China of Italian SMEs, by enhancing their access to medium-long term financing and expanding the offer of products and services to sustain their business initiatives in the Asian market.

The agreement was signed by Gaetano Micciché, Director General of Intesa Sanpaolo and head of the Corporate and Investment Banking Division, and by Alessandro Castellano, Chief Executive Officer of Sace, on the sidelines of the Business Forum organized in Beijing during the Italian Government mission to
China.

The deal allocates a total amount of €100m to support the export and internationalization activities carried out by Italian companies in China through medium-long term financing and lays the basis for a reinforced co-operation on specific projects in this market.

“Intesa Sanpaolo has always been strongly committed to supporting the process of development and growth of Italian firms in international markets, particularly in China,” said Gaetano Miccichè.

“The Chinese market continues to offer significant growth prospects in terms of consumption and these opportunities can be seized by Italian companies with strong brands and capable to continuously improve the quality of
products and identify new market segments.”

 

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