Iran trade mission: important agreements signed for export and infrastructures

Iran trade mission: important agreements signed for export and infrastructures

The CDP Group is part of the Italian government mission to Iran, led by prime minister Matteo Renzi

CDP – together with SACE and SIMEST – will aim to support Italian exports to Iran through an integrated system of initiatives, which between guarantees and credit lines will amount to a significant commitment. Specifically this includes:

•             €4 billion in credit lines issued through the "export bank" system to Iranian sovereign counterparties by CDP and the credit intermediary system. This initiative is designed to support important projects in the infrastructure, oil&gas and transport sectors, to be commissioned from major Italian companies with significant downstream business for SME suppliers

•             €4 billion in guarantees on the above credit lines from Sace, while Simest will be involved in order to stabilise the associated interest rates

•             €800 million to facilitate the revival of Italian SMEs’ business in the country. This will take place through two Sace initiatives to support the competitiveness of Italian SMEs in short- and medium-term deals for the supply of consumer goods or “Made in Italy” machinery: a €500 million line of trade finance and, thanks to an agreement signed with Banca Popolare di Sondrio, a €300 million credit line.

During the official visit, a cooperation agreement was also signed between FS Italiane Group and the railway operator of the Islamic Republic of Iran (RAI) for the construction of two high-speed lines in Iran, a test centre and a full programme of training for Iranian railway staff.

Cooperation ties will benefit from a loan granted by CDP together with the banking system that is fully guaranteed by Sace, while Simest will also act to stabilise the interest rate.