MILAN, Oct 6 (Class Editori) — Intesa Sanpaolo, through its IMI Corporate & Investment Banking Division, SACE and BEEAH Sharjah Environmental have announced a financing agreement with the aim of facilitating the development of the Emirati company's business relations with Italian ones and increasing sourcing from Italy in the upcoming years.
The loan provided by Intesa Sanpaolo and 80% guaranteed by SACE will be in favor of BEEAH, an Emirati company active in the waste management sector. It manages all phases of the waste cycle —collection, recycling, disposal and waste-to-energy— in the Emirates and other countries in the concession area.
The deal, which is part of SACE’s Push Strategy program, aims to increase business opportunities for Italian exporters in Sharjah and the United Arab Emirates, strengthening the positioning of the company led by Alessandra Ricci in this strategic area for Italian exports. The Push Strategy targets large foreign buyers (selected and prominent ones) and provides access to medium- to long-term financing, guaranteed by SACE, to support their investment and growth plans.
A fundamental aspect of the agreements with foreign buyers is the commitment to evaluate Made-In-Italy supplies to activate business plans. Such commitment is made easier through business matching events organized by SACE between Italian SMEs that are interested in establishing themselves as suppliers and supply teams of foreign counterparts benefiting from credit lines.
“We are glad to have finalized this operation with BEEAH, a leader in the environmental sector. It is the first operation within the Push Strategy framework we have been carrying out alongside SACE in the region, a partner with which we expect to further develop this type of business,” Hedi El Karoui, General Manager of Intesa Sanpaolo in Dubai, stated. “The initiative strengthens economic relationships between Italy and the Middle East, where Intesa Sanpaolo, Italy’s largest bank, has a huge presence and is therefore the best positioned to play the protagonist role”.
“We are proud of confirming our commitment in supporting Italian SMEs through the promotion of new export opportunities to the Middle East,” Maurizio d’Andria, Head of Dubai Office at SACE, commented. “In addition, we are particularly glad to have collaborated with Intesa Sanpaolo in its first operation in the region within our Push Strategy, which confirms the strong partnership with the bank”.
(Source:Class Editori)
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