CDP and ALEXBANK: 21 million euro for Egyptian agricultural microenterprises under the TERRA Programme
A guarantee agreement, fully counter-guaranteed by the European Union, was signed at the Italy-Egypt Business Forum. It will cover up to 70% of the losses on a 30 million euro loan portfolio for small farmers
Cassa Depositi e Prestiti (CDP) and Bank of Alexandria S.A.E. (ALEXBANK), part of the Intesa Sanpaolo Group, signed a 21 million euro Guarantee Agreement under the Transforming and Empowering Resilient and Responsible Agribusiness Programme (TERRA) in Cairo on 3 September 2026. The signing ceremony took place on the sidelines of the Italy-Egypt Business Forum, in the presence of Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation Antonio Tajani, Minister of the Environment and Energy Security Gilberto Pichetto Fratin, Minister of Labour and Social Policies Marina Calderone, as well as Egypt’s Minister of Investment and Foreign Trade Mohamed Farid Saleh and Minister of Foreign Affairs of the Arab Republic of Egypt Badr Abdelatty, underscoring the strategic importance of economic and institutional relations between the two countries.
The agreement will enable a loan portfolio of up to 30 million euro to be made available to microenterprises in Egypt’s agri-food sector, with a particular focus on small farmers. The guarantee provided by CDP and fully counter-guaranteed by the European Union will enable ALEXBANK to expand its financial support for local businesses, fostering their growth and access to credit on more favourable terms.
Through the TERRA Programme, CDP helps strengthen the resilience of African agri-food supply chains and supports private-sector development in partner countries by facilitating access to finance for companies and economic operators. The transaction is fully aligned with the Mattei Plan for Africa and the European Union’s Global Gateway Strategy, specifically its objectives relating to sustainable economic growth, the resilience of agri-food systems, employment creation and financial inclusion.
In this context, CDP confirms its role as the Italian Financial Institution for International Cooperation & Development Finance, committed to mobilising European resources and developing partnerships with leading local financial institutions. The initiative is also part of the Mattei Plan for Africa, which recognises Egypt as a strategic partner for the development of the agricultural sector.
Carlo Rossotto, Head of Development Cooperation and International Institutional Relations at CDP, stressed: “Supporting small farmers means fostering the resilience of entire communities. Through this partnership with ALEXBANK and the support of the European Union, we are facilitating access to credit where it can generate the greatest economic and social value, thereby contributing to more inclusive, sustainable development”.
H.E. Angelina Eichhorst, Head of the EU Delegation to Egypt, stated: “The partnership between the European Union and CDP reflects a shared commitment to supporting Egypt’s sustainable, inclusive development. Through our joint initiative under the TERRA Programme, we are promoting food security, the creation of decent work and greater prosperity in rural areas, helping to build an agricultural sector that is more sustainable and resilient to climate change”.
Paolo Vivona, Chief Executive Officer and General Manager of ALEXBANK, stated: “We are honoured to collaborate with Cassa Depositi e Prestiti and the European Union. This partnership strengthens ALEXBANK’s long-standing commitment to supporting the agri-food sector and forms part of our work over many years to support micro, small and medium-sized enterprises and expand access to financial services throughout Egypt’s agricultural supply chain. By strengthening the agri-food value chain, we are helping to create new opportunities for sustainable growth and enabling farmers to play an increasingly active role in the country’s economy. This agreement further confirms our role as a reliable partner in Egypt’s economic development and our commitment to promoting inclusive growth, in line with the broader vision of the Intesa Sanpaolo Group”.
Paola Papanicolaou, Head of Intesa Sanpaolo’s International Banks Division, stressed: “I am particularly pleased with the transaction completed today between ALEXBANK, Intesa Sanpaolo’s Egyptian bank, and CDP. It strengthens cooperation between Italy and Egypt and represents another step forward in the Mattei Plan for Africa. Through ALEXBANK, our Group is an integral part of the Egyptian economy and enjoys a unique position that no other major Italian bank has, combining a deep-rooted local presence with the international expertise of one of Europe’s leading banking groups. I am fully convinced that Italy and Egypt can build an even stronger economic bridge across the Mediterranean, linking Europe, Africa and the Middle East. This is the partnership that Intesa Sanpaolo and ALEXBANK are committed to supporting and promoting over the long term”.
