Intesa Sanpaolo and SACE to support Italian SMEs in China

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intesa-san-paoloIntesa Sanpaolo and SACE signed a Memorandum of Understanding 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 Alessandro Castellano, Chief Executive Officer of SACE, on the sidelines of the Business Forum organized in Beijing during the Italian Government mission to China. It allocates a total amount of 100 million to support, through medium-long term financing, the export and internationalization activities carried out by Italian companies in China and lays the basis for a reinforced co-operation on specific projects in this market.

A first deal is already being evaluated under the scope of the agreement: a 16 million loan, to be issued by Intesa Sanpaolo and guaranteed by SACE, to support the export of Italian industrial technologies to one key Chinese paper/tissue producer. The technologies will be provided by Toscotec, leading company in the design, manufacture and delivery of complete plants and equipment for the production of tissue, paper and board leading from the renowned paper&tissue district in Lucca, heartland of paper production.
The agreement also establishes a stronger collaboration framework for the realization of joint events to promote the knowledge on tools and opportunities offered by Intesa Sanpaolo and SACE.