Italy, Sace to Guarantee €1,5bn of New Loans Provided by the EIB

SACE, Italy’s provider of credit insurance, investment protection and contractual guarantees to cover political and commercial risk, has signed an agreement with the European Investment Bank (EIB) to guarantee €1,5bn of new loans provided by the EIB.
Within the framework of the agreement, SACE will act as guarantor on loans – provided by the bank in Italy and aborad – to improve access to finance for Italian companies.
For SACE, which assists customers in over 150 countries, this agreement represents a further step towards a new strategy to expand its mission, dedicated to supporting the competitive positioning of Italian companies on global markets, even through accessing finance.
Commenting on the agreement, Alessandro Castellano, CEO of Sace, said: “We are already proceeding some loans that should allow us to rapidly use and maximasing the impact of the funds made available from EIB in this difficult phase”.  

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