ANNOUNCEMENT 18 Oct 2018
In October 2018, the Italian Eximbank SACE announced approving a guarantee to support Italian exports to India.
NUMBER OF INTERVENTIONS
SACE, press release of 18 October 2018, SACE (CDP Group) with Reliance: 500 million dollars for Italian exporters in India: https://www.sace.it/en/media/press-releases/press-release/sace-(cdp-group)-with-reliance-500-million-dollars-for-italian-exporters-in-india
On 18 October 2018, the Italian Eximbank SACE announced providing a guarantee for credit lines issued to Indian Reliance Industries Limited. The guarantee has a total value of USD 500 million. The loan guarantee aims to promote Italian exports and companies participating in opportunities offered by the Reliance Group in connection with their capital expenditure.
In this context, SACE stated in a press release: "In order to facilitate the involvement of Italian exporters in Reliance Group’s future procurement program, Reliance and SACE will organize meetings and business matching events between Reliance and Italian companies in relevant businesses, especially SMEs, interested in starting business dealings with the Reliance Group. With Reliance Group’s strong Retail business footprint in India and SACE’s established knowledge base of Italian suppliers, for the first time within SACE “Push Strategy” initiative, the deal will be addressed to a broad range of enterprises, including Italian leading-sectors like fashion and luxury."
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets and from foreign subsidiaries.