Intesa Sanpaolo and SACE Aid Estithmar Holding to Boost Italian Exports in Qatar
SACE, Italy’s state-owned insurance financial group, and Intesa Sanpaolo, one of Europe’s leading banking groups, have successfully finalized a EUR 150 million transaction aimed at facilitating Italian exports in Qatar. The agreement was concluded during the state visit of the Emir of Qatar, H.H. Sheikh Tamim Bin Hamad Al Thani, to Italy, marking a significant milestone in strengthening the economic ties between Italy and Qatar.
This transaction is part of the Push Strategy initiative, which was designed to support Qatar’s economic growth by encouraging partnerships between Qatari businesses and international players in strategic industries. Under this scheme, SACE has issued a financial guarantee for a facility provided by Intesa Sanpaolo’s IMI Corporate & Investment Banking (CIB) Division to Estithmar Holding, a prominent publicly listed Qatari company with interests in key sectors such as healthcare, services, real estate, tourism, and specialized contracting.
The EUR 150 million transaction aims to boost collaboration between Estithmar and Italian businesses. In return for the funding, Estithmar has committed to creating business matching opportunities with Italian companies across these sectors, further cementing the relationship between the two countries’ industries.
Ciro Aquino, Regional Manager for the Middle East and Head of SACE’s Dubai office, expressed pride in the partnership with Intesa Sanpaolo and Estithmar Holding, stating: “We are excited to be part of our first Push Strategy transaction in Qatar. This initiative is a testament to our commitment to facilitating export and business opportunities for Italian companies in one of the most dynamic markets in the world. Our focus is on sectors where both Estithmar and Italian companies excel, fostering synergy that benefits both the Italian and Qatari economies.”
Luca Pietrantoni, Country Manager for the UK and MEA at the IMI CIB Division of Intesa Sanpaolo, emphasized the dual benefits of the transaction, highlighting that it not only supports Estithmar, an international leader, but also opens doors for Italian businesses to explore opportunities in the Qatari market. Pietrantoni noted: “This collaboration is a clear signal of the potential within the Qatari market, and it demonstrates the important role of the IMI CIB Division in supporting businesses as they expand globally. The transaction aligns with our objective of helping companies grow and thrive in new markets.”
Eng. Mohammad Bin Badr Al Sadah, Group CEO of Estithmar Holding, also celebrated the transaction, highlighting its alignment with the company’s international expansion strategy. He noted, “We value the collaboration with SACE and Intesa Sanpaolo through the Push Strategy scheme. This agreement not only supports our growth objectives but also reinforces our commitment to delivering value to our stakeholders. It showcases the growing trust in our business and will create significant opportunities to strengthen economic relations between Italy and Qatar.”
The collaboration between SACE, Intesa Sanpaolo, and Estithmar Holding reflects a deep commitment to driving economic growth and enhancing bilateral trade between Italy and Qatar. It is a landmark step in supporting Italian companies’ efforts to expand internationally, helping them tap into the dynamic Qatari market.
This transaction is also a testament to SACE’s strategic role in fostering the internationalization of Italian businesses. By offering financial guarantees and supporting exports, SACE plays a crucial role in ensuring sustainable growth and fostering long-term partnerships that benefit both Italy and its international partners.
As a key player in this initiative, SACE continues to support Italian businesses as they expand beyond borders, providing them with the tools and resources they need to thrive in competitive global markets. With the continued growth of the Qatari economy and the increasing collaboration between Italy and Qatar, this deal stands as a significant milestone for both nations and a model for future partnerships.
The EUR 150 million Push Strategy transaction exemplifies the strong potential for collaboration between Italian and Qatari companies, highlighting opportunities for Italian businesses to enhance their presence in the Gulf region. With both nations committed to mutual growth, the deal promises to create lasting value for all involved, driving the ongoing development of key sectors in both Italy and Qatar.
Through these strategic alliances, SACE, Intesa Sanpaolo, and Estithmar Holding are reinforcing their positions as facilitators of international business growth, supporting small and large enterprises alike in navigating and thriving in global markets. As Italy and Qatar continue to expand their economic ties, the Push Strategy transaction will serve as a key example of the power of international collaboration in achieving mutual economic success.
