SACE allocates 100mn for new infrastructure in Istanbul

Credit line to Metropolitan Municipality for construction work

07 November, 11:21

    (ANSAmed) - ROME, NOVEMBER 7 - Italian export credit agency SACE has granted funding worth 100 million euros, provided by Intesa San Paolo Group and ING A.S., to Istanbul Metropolitan Municipality (Imm), the biggest of 30 metropolitan municipality and Turkey's main economic and financial hub.

    The credit line, insurance-financial group CdP said, will contribute to funding the investment plan worth 2.75 billion euros of Imm for the construction of infrastructure in the city of Istanbul, including the subway line Eminonu-Alibeykoy.

    The Turkish market, the statement said, is a priority for Italian exports, which in 2016 reached 9.6 billion euros and, according to SACE forecasts, are expected to grow on average 3.8% a year until 2020.

    In order to help Italian exporters obtain contracts, SACE over the coming weeks will organize in Milan a meeting between Imm managers and Italian companies, in particular small and medium-sized firms, interested in operating with the Turkish counterpart. (ANSAmed).

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