19 Feb 2024 15:56

Italian export credit agency SACE to allocate 1.5 bln euros to support trade, financial operations in Ukraine

MOSCOW. Feb 19 (Interfax) - The Italian export credit agency SACE will allocate 1.5 billion euros to support trade and financial operations, in particular, in the field of healthcare and infrastructure.

Ukrainian First Deputy Prime Minister and Economy Minister Yulia Sviridenko and Italian Ambassador in Kiev Francesco Zazo discussed the matter at a meeting at which the Ukrainian side urged SACE to boost cooperation with Ukraine and expand the types of covered risks, Ukrainian media reported, citing the Ukrainian Economy Ministry's website.

The export credit agency also intends to support investments of Italian companies in Ukraine and provide export loans, preferential lending and direct investment.

Sviridenko highlighted the importance of support for Ukrainian small and medium-sized enterprises (SMEs), which are the foundation of the national economy. She noted that the government also expects to intensify cooperation with the Italian Agency for Cooperation Development (AICS) to promote local economic development, job creation and support SMEs.

SACE is an Italian export credit agency and an active party to major international organizations in the field of export lending. SACE is governed by European Union law and the Organization for Economic Cooperation and Development's Arrangement on Officially Supported Export Credits.