Press Releases and News

SACE and China Merchants Bank signed a cooperation agreement to support the internationalization of Italian companies in China by enhancing their access to capital resources.

The Board of Directors of SACE SpA today examined the quarterly report as at 31 March 2012. The portfolio of operations insured at the end of March stood at € 33.4 billion, an increase of 6.3% compared with the same period in 2011, confirming the anti-cyclical role of SACE supporting Italian business throughout the world. Operations insured in the quarter showed a considerable increase (€ 1.6 billion, up 157%).

Today the SACE Board of Directors approved the SACE Parent Company draft financial statements and the Group consolidated financial statements at 31 December 2011.

SACE has been awarded an advisory contract to assist with the operational set up of the new Russian agency for insurance of export credit and investment, Exiar. SACE is currently acting as Exiar’s advisor, providing technical consultancy services alongside a technical training program with a focus on products, work practices, risk management and assessment. The co-operation will be further reinforced by a Memorandum of Understanding with an expected project pipeline of over € 1 billion trade &investment opportunities in the CIS Region

SACE has guaranteed a US$ 400 million equivalent loan granted to the major Indian petrochemical and oil & gas group, Reliance Industries, for the expansion and upgrading of the production capacity of its petrochemical plants, a gasification plant and refinery off-gas cracker as part of an investment plan in India worth over US$ 11 billion.