Newsletters
Turk Eximbank has signed cooperation agreements with SACE, the Italian Export Credit Agency, and Cassa Depositi e Prestiti (CDP), Italy’s national promotional institution, aimed at strengthening bilateral economic ties.
According to a statement released by the bank, Türk Eximbank participated in the Türkiye-Italy Business Forum held in Rome on April 29, aiming to enhance economic cooperation between the two countries. During the forum, the bank signed a comprehensive reinsurance agreement with SACE—an arrangement in which one export credit agency transfers part of the insurance risk of a project to another agency—and a memorandum of understanding (MoU) with CDP, Italy’s development finance institution focused on international cooperation and investment.
The reinsurance agreement with SACE is designed to support joint projects and transactions undertaken by Turkish and Italian firms in third countries. Under the structure of the agreement, one party will provide insurance coverage for the entire project, while the other will offer reinsurance specifically for goods and services sourced from its own country. This mechanism is expected to streamline the loan allocation process by enabling faster and more efficient financing through unified documentation and common financial terms.
The MoU signed with CDP outlines collaboration in funding initiatives aligned with the missions of both institutions. It also envisions organizing promotional events to introduce newly generated financial resources to the private sector.
Both agreements are expected to positively contribute to the current level of economic relations, export activities, and trade volume between Türkiye and Italy.
TWEET: Turk Eximbank signs reinsurance and funding agreements with Italy’s SACE and CDP to support joint Turkish-Italian business ventures in third countries and strengthen bilateral economic cooperation
1 min read
