IIntesa Sanpaolo and SACE support Estithmar Holding to facilitate Italian exports in Qatar
Following the signing ceremony of the Push Letter on the occasion of the state visit of the Emir of Qatar, H.H. Sheikh Tamin Bin Hamad Al Thani, in Italy, SACE, the Italian insurance financial group fully owned by Italy’s Ministry of Economy and Finance, together with Intesa Sanpaolo, one of the top banking groups in Europe, and Estithmar Holding, are pleased to announce the successful finalization of a EUR 150 million Push Strategy transaction aimed at supporting Qatar’s economic growth by enabling partnerships in strategic industries.
Under the Push Strategy scheme, SACE has provided a financial guarantee for the facility issued by Intesa Sanpaolo through IMI Corporate & Investment Banking Division to Estithmar Holding, a prominent Qatari publicly listed company engaged in strategic sectors such as healthcare, services, real estate, tourism, and specialized contracting.
In return, Estithmar has committed to fostering business matching opportunities with Italian companies across its key sectors of interest, further strengthening the ties between the Italian industry and the Qatari market.
Ciro Aquino, Regional Manager Middle East, Head of SACE Dubai Office remarked: “We are proud to partner with Intesa Sanpaolo and Estithmar Holding in our first Push Strategy transaction in Qatar. This initiative reflects our commitment to facilitating export and business opportunities for Italian companies in one of the most dynamic and competitive markets. We are especially focused on sectors where both Estithmar and Italian companies demonstrate excellence, creating a strong synergy that benefits both economies”.
Luca Pietrantoni, Country Manager UK & MEA of the IMI CIB Division of Intesa Sanpaolo, commented: “This transaction has a dual value because it supports an international excellence like Estithmar while, at the same time, thanks to the Push Strategy scheme, it offers business opportunities to Italian companies interested in growing or entering the Qatari market. This collaboration, which sees us as key player in a market with great potential, confirms the role of the IMI CIB Division in supporting and accompanying national and international businesses in their growth and development plans”.
Eng. Mohammad Bin Badr Al Sadah Group CEO of Estithmar Holding commented: “We value our collaboration with SACE and Intesa Sanpaolo through the Push Strategy scheme. This transaction will support our growth objectives and reinforce our commitment to delivering value to our stakeholders. The step aligns with our strategy to expand internationally and demonstrates the growing trust we are earning from prominent global financial institutions in our business portfolio. This collaboration is poised to create meaningful opportunities to further enhance economic relations between Italy and Qatar."