5 bln from SACE to support Italian firms and export

The Italian export credit agency SACE has announced five billion euros in operations being assessed to support Italian export and firms in Egypt, one of the most strategic markets for the country in the Mediterranean.

The agency gave the announcement during a bilateral meeting between Economic Development Minister Federice Guidi and Egypt's Minister for Investment Ashraf Salman, in Rome for the Conference on the Mediterranean.

SACE has in Egypt a portfolio of insured transactions worth 1.6 billion euros, mostly in the energy, petrochemicals and infrastructure and constructions sectors, including both large Italian companies and many SMES.