Mattei Plan: ALEXBANK – CDP agreement to support the agrifood sector in Egypt

ALEXBANK – a bank of the Intesa Sanpaolo Group in Egypt – and CDP signed a Memorandum of Understanding to support the agrifood sector in Egypt with the aim of:

• promoting high-impact projects
• developing tools to facilitate access to funding, and in particular microcredit

for Egyptian SMEs in the agricultural sector.

The agreement is one of the initiatives promoted by the Italian Government under the Mattei Plan and also strives to promote collaboration between Egyptian and Italian businesses, encouraging sustainable supply chains and empowering the sectors of excellence of both countries.

The main areas of cooperation include:

• creation of guarantee instruments with forms of technical assistance for local businesses
• development of co-funding initiatives for high-impact projects with resources provided by both institutions
• 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.

ALEXBANK, part of the Intesa Sanpaolo’s International Banks Division, is one of Egypt’s leading private sector banks, with 172 branches and over 4,300 individuals who serve more than 1.9 million customers in the Retail, Small Business, Medium and Corporate Enterprises segments.