Cdp, agreement to promote sustainable growth in Albania

TIRANA (ALBANIA) (ITALPRESS/MNA) – A joint commitment to promote initiatives in favour of the sustainable development of Albania and its SMEs was agreed between the Italian and Albanian authorities.
This is the main objective of the Memorandum of Understanding signed by the CEO of CDP Dario Scannapieco, the CEO of SIMEST Regina Corradini D’Arienzo and the Secretary General of the National Economic Council Arben Shkodra. The agreement marks the start of the process for the recognition of the role of CDP in Albania as an Italian Financial Institution for International Development Cooperation. The signing took place during a visit to the Albanian capital Tirana by a delegation from Cassa Depositi e Prestiti during which the CEO of CDP met with the Albanian Prime Minister Edi Rama, the Minister for Entrepreneurship Delina Ibrahimaj, the Minister of Finance Ervin Mete and the Deputy Minister of Tourism and Environment Vilma Bello. The meetings were an opportunity to illustrate the strategy that CDP intends to pursue to support the country’s public and private sector in favour of sustainable and inclusive growth.

“The ties between Italy and Albania,” added Regina Corradini D’Arienzo, CEO of SIMEST – “are close, not only due to geographical proximity but also due to a substantial similarity in the composition of the industrial context. SIMEST is already present in the Western Balkans, offering businesses its range of products, from subsidized finance to participatory investments and strategic consultancy. With today’s agreement, we are committed to strengthen our activity in Albania, in order to facilitate new opportunities for cooperation with the production sector and to consolidate commercial relations between Italian and local companies.”

The objectives of the agreement also include the identification of areas of common interest to seize opportunities for financing projects in Albania capable of facilitating the achievement of the United Nations Sustainable Development Goals (SDGs) with a positive impact on the climate; the development of joint initiatives to promote collaboration between SMEs, leveraging the financial instruments available to CDP and SIMEST, also through the Business Matching platform; support bilateral investments and share information on opportunities in areas and sectors of mutual interest.

For Cassa Depositi e Prestiti, the agreement with Albania is part of a broader strategy to strengthen its activity of supporting the sustainable growth initiatives of companies in emerging economies following the inauguration of the first non-EU branch in Belgrade – Banca Intesa Beograd . The opening of two new representative offices in North Africa is planned in the coming months, in Cairo in Egypt and in Rabat in Morocco.

Furthermore, during the day, the CEO of CDP signed a financing contract for a total amount of 10 million euros with Intesa Sanpaolo Bank Albania, represented at the signing ceremony by its CEO Alessandro D’Oria. The initiative is part of a financing program divided into several tranches which will affect other countries where Intesa Sanpaolo is present. The funds, made available by Cassa Depositi e Prestiti as part of the Western Balkans Investment Framework initiative promoted by the European Union, are intended to Intesa Sanpaolo Bank Albania, the only Italian bank operating in the country (through loans disbursed directly), to support the growth of Albanian small and medium-sized businesses with favourable interest rates. CDP resources will be able to generate a leverage effect equal to at least double the amount of the loan, for a total of no less than 20 million euros. The initiative will support at least 50 local businesses, create new jobs and contribute to the achievement of five United Nations Sustainable Development Goals (SDGs).

– Photo Cdp press office –


Source: medNews