Agreements SACE - 24 May 2024

SACE signs two financial agreements worth a total of € 400 million to boost Italian exports in Serbia

SACE, the Italian insurance-financial group controlled directly by the Ministry of the Economy and Finance, has signed two financial agreements worth a total of 400 million euros during the Italy-Serbia Business Forum. The event was attended by the Italian Minister of Foreign Affairs and International Cooperation, Antonio Tajani, and the Prime Minister of the Republic of Serbia, Milos Vučević.

The first agreement involves a 200 million euro financing line guaranteed by SACE in favor of the Republic of Serbia represented by the Government of the Republic of Serbia, acting by and through the Ministry of Finance. This financing aims to support Serbia's development plans and strengthen commercial relations in the sectors of transport, tourism, telecommunications, energy, and IT, with the goal of facilitating Italian companies' access to the Serbian market.

The second agreement, signed with Telekom Serbia, entails an up to 200 million euro financing guaranteed by SACE to enhance commercial relations with Italian exporters active in ICT services, commercial distribution, and the buying and selling of television rights.

The agreements were signed by Alessandra Ricci, CEO of SACE, Ms. Dubravka Đedović Handanović, Minister of Mining and Energy for Serbia, and Vladimir Lucic, CEO of Telekom Serbia. These initiatives are part of SACE's Push Strategy, a program designed to open new opportunities for Italian companies, particularly SMEs, by strengthening their position in the supply chains of major foreign buyers benefiting from medium-to-long-term financing guaranteed by SACE.

"Serbia represents a market with great potential for our companies, and today's agreements will strengthen their position in key sectors for the country's development. Specifically, the green transition, telecommunications and tourism are areas where Made in Italy, with SACE's support, can make a significant contribution" said Alessandra Ricci, CEO of SACE.

SACE is present in Belgrade with an office with the aim of supporting Made in Italy by assisting companies wishing to penetrate or reinforce their presence in Serbia and the Balkans, with all the financial tools, experience and expertise of SACE, combined with the added value of a physical presence on the ground.

Italian exports to Serbia grew by 5.6% in 2023, surpassing 2.3 billion euros. 

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