Alexandria, Egypt - A Memorandum of Understanding to support the agrifood sector in Egypt, with the aim of promoting high-impact projects and developing tools to facilitate access to funding, and in particular microcredit, for Egyptian SMEs in the agricultural sector.

The agreement, which is one of the initiatives promoted by the Italian Government under the Mattei Plan, was signed in Alexandria by Cassa Depositi e Prestiti (CDP) and ALEXBANK - a bank of the Intesa Sanpaolo Group – in the presence of the Italian Minister of Agriculture, Food Sovereignty and Forestry, Francesco Lollobrigida, and the Egyptian Minister of Supply and Internal Trade, Sherif Farouk, on the occasion of the Farmers Market event promoted by the leading agricultural organisation, Coldiretti, and aimed at developing local food markets.

The initiative, in addition to outlining a framework of cooperation aimed at creating funding and co-funding opportunities for companies in the sector, also strives to promote collaboration between Egyptian and Italian businesses, encouraging sustainable supply chains and empowering the sectors of excellence of both countries.

In particular, the three main areas of cooperation include the creation of guarantee instruments with forms of technical assistance for local businesses, the development of co-funding initiatives for high-impact projects with resources provided by both institutions, and the promotion of matchmaking events between Egyptian and Italian companies, with the aim of strengthening trade.

The agreement, signed under the auspices of the Italian Embassy in Cairo, is part of the strategic partnership between Egypt and the European Union, and is part of a growing interest of Italy and Egypt to strengthen collaboration in strategic sectors such as agribusiness. In particular, the agreement is part of the initiatives promoted by the Italian Government under the Mattei Plan and was announced during the visit of the Prime Minister to Cairo on 17 March 2024, along with other agreements signed between the financial institutions of the Italian system and local financial institutions.

For more information:
CDP Media Relations
Contact information:
E-mail: ufficio.stampa@cdp.it
www.cdp.it

Intesa Sanpaolo
Corporate & Investment Banking and Governance Areas
stampa@intesasanpaolo.com
www.intesasanpaolo.com/it/news

Cassa Depositi e Prestiti (CDP)

Cassa Depositi e Prestiti is a National Promotional Institution that has been supporting the Italian economy since 1850. Through its operations, it is engaged in accelerating the industrial and infrastructural development of the country, so as to contribute to its economic and social growth. CDP focuses its activities on regional sustainable development, as well as innovation and growth, including internationally, of Italian companies. It is a partner of Local Authorities, with loans and advisory services, for the creation of infrastructures and for the improvement of services of public utility. In addition, it is active in the field of International Cooperation to fund projects in developing countries and emerging markets. Cassa Depositi e Prestiti is funded totally by private resources, through the issue of postal bonds and passbook accounts and through issues onto the national and international market.

Intesa Sanpaolo 

Intesa Sanpaolo, with over 422 billion euros in loans and 1,350 billion euros in customer financial assets at the end of June 2024, is the largest banking group in Italy with a significant international presence. It is a European leader in wealth management, with a strong focus on the digital and fintech sectors. In the area of ESG, it has planned 115 billion euros of Impact funding by 2025, for the community and the green transition. The programme for and in support of people in difficulty amounts to 1.5 billion euros (2023-2027). The Bank’s Museum network, the Gallerie d 'Italia, is the exhibition venue for its artistic heritage and cultural projects of recognised value.

News: group.intesasanpaolo.com/it/newsroom
X: @intesasanpaolo
LinkedIn: linkedin.com/company/intesa-sanpaolo

ALEXBANK

ALEXBANK is one of Egypt’s leading private sector banks established in 1957 and participated by the Intesa Sanpaolo Group since 2007.  ALEXBANK owns one of the largest private sector branch networks with a total of 173 branches located in every major Egyptian governorate employing over 4,300 individuals who proudly serve more than 1.9 million customers. ALEXBANK actively serves the widest spectrum of segments by providing value added financial products, services and solutions to Retail, Small Business, Medium and Corporate Enterprises. 

ALEXBANK is currently in the midst of a radical digital transformation aimed at providing our customers with the most unique of banking experiences, via our seamless multi-channel experience incorporating Internet & Mobile Banking, Cards, Electronic wallets, and the latest generation of point-of-sale & ATMs, all powered through the power of Big Data and empowered by key players in the Fintech ecosystem.

News: alexbank.com/en/retail/our-world/media-and-news
LinkedIn: linkedin.com/company/bank-of-alexandria

ALEXBANK’s Media Relations
Contact information:
E-mail: rana.ahmed@alexbank.com