ALEXBANK signed MoU with Cassa Depositi e Prestiti to Support Egypt’s rural development

 Depositi e Prestiti S.p.A. (CDP), the Italian National Promotion Institution, to facilitate access to microcredit for Egyptian SMEs in the agricultural sector. The agreement supports Egypt’s Vision 2030 strategy, being also in line with the Intesa Sanpaolo Group’s commitment to pursue sustainable growth in the countries where it operates.

The signing of the MoU was witnessed by H.E. Sherif Farouk – Minister of Supply and Internal Trade of Egypt, H.E. Francesco Lollobrigida – Minister of Agriculture, Food Sovereignty and Forestry of Italy, H.E. Michele Quaroni – the Ambassador of Italy in Egypt, General Ahmed Khaled – Governor of Alexandria, Dr. Alaa Ezz – Secretary General of the Confederation of Egyptian European Business Associations, Ahmed Al-Wakeel – President of the General Federation of Egyptian Chambers of Commerce and President of the Alexandria Chamber of Commerce , Paolo Vivona – CEO and Managing Director of ALEXBANK, Ramy Taha – Deputy CEO Retail, MSMEs & Digital Banking of ALEXBANK and Francesco Masera, Head of Business Promotion, Governance, and CIS Partnerships at CDP.

The MoU establishes a collaborative framework between ALEXBANK and CDP focusing on providing Egyptian farmers and agribusinesses with better access to financial resources and expertise. By leveraging Italy’s agricultural know-how, this partnership seeks to drive sustainable development in Egypt’s agricultural landscape, with the aim to support Egypt’s agriculture, agribusiness, and also other strategic sectors, by exploring financing opportunities, co-financing participation, and guarantee systems.