(Tiper Stock Exchange) – SACEthe Italian insurance-financial group directly controlled by the Ministry of Economy and Finance, announces an important new agreement with the Superior Committee for Export Credit from the Republic of Iraq and a business matching initiative to support cooperation opportunities between the two countries to implement projects with a high social impact in Iraq involving Italian companies.
L’understood – signed at the SACE headquarters in Rome by Alexandra HedgehogsChief Executive Officer of SACE e HE Dr Mohammed Al DarrajiTechnical Adviser to the Prime Minister and Chairman of the Higher Committee for Export Credit of the Republic of Iraq – aims to strengthen and enhance cooperation in various sectors with high social impact including infrastructure, pharmaceutical, glass manufacturing, agri-food and housing. The Agreement was possible thanks to the support of the Italian Ambassador in Baghdad Maurizio Greganti. The counterparties undertake to develop a Open Multitied Framework to support projects in the country up to 1 billion euro. In light of a potential increase in trade flows between Iraq and Italy, SACE will evaluate the opportunities to support export contracts with the Iraqi Ministry of Finance as guarantor.
Downstream of signatureSACE hosted for a business matching meeting between 25 companies active in Iraq, the Ministry of Finance of Iraq, the Trade Bank of Iraq and over 40 Italian companies operating in the supply chains of the sectors affected by the agreement.
L’initiative represents a new concrete step forward in cooperation between Italy and Iraq, and adds to the agreement signed last May to develop new opportunities in the country with GKSD Investment Holdinga world leader in project planning, development and management, ranging from construction works and acquisition operations, to medical-scientific activities, up to consultancy services.
“We are proud to support exchange and business opportunities between Italy and Iraq, facilitating access to Italian technologies, products and know-how to carry out projects with a high social impact – he declared Alexandra HedgehogsChief Executive Officer of SACE – This initiative has enormous potential in terms of business, with concrete benefits for the communities involved”.
“The Iraqi government has taken important and courageous steps to implement an export credit program to support the private sector. The laws and regulations to issue sovereign guarantees of up to a trillion dinars to cover loans for the industry is a necessary commitment to allow the development of our production system – he declared HE Dr. Mohammed Al DarrajiTechnical Adviser to the Prime Minister and President of the Superior Committee for Export Credit of the Republic of Iraq – The hope is that our companies can achieve a successful collaboration, seizing the opportunities offered by this program and by the excellent relations between Italy and Iraq”.