North Africa: Arab bank partnership

“Thanks to the agreement, SACE will use the International Bank to issue bonds to competitive market conditions in 15 countries where the bank operates through its subsidiaries”, Italian website Milano Finanza (milanofinanza.it) reports.

SACE has finalized a partnership agreement with Europe Arab Bank to support the business of Italian firms in the Middle East and North Africa.

Thanks to the agreement, SACE will use the International Bank to issue bonds to competitive market conditions in 15 countries where the bank operates through its subsidiaries (Algeria, Saudi Arabia, Cyprus, Egypt, Jordan, Lebanon, Libya, Morocco, Oman, Palestine, Qatar, Syria, Tunisia, UAE, Yemen).

SACE areas of the Middle East and North Africa, which currently has a total exposure amounted to over 7 billion euros last year, the two areas accounted for 15% of new guarantees deliberated by the company.

 

Source: milanofinanza.it

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