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BNL and SIMEST team up to support Italian companies expansion

BNL–BNP Paribas Group and Societa Italiana per le Imprese all'Estero, have signed an agreement to support steps taken by Italian companies to expand internationally.

The agreement will give Italian companies, which are undertaking investment programs and initiatives to set up in markets outside the European Union, the opportunity to take advantage of specialist and tailored services in countries where BNL operates with its own organization and dedicated professionals.

Societa Italiana per le Imprese all’Estero (SIMEST), the holding company of the Italian Foreign Trade Ministry, promotes companies’ international expansion by taking equity stakes of up to 49% in foreign companies in which Italian companies also hold a stake. It manages the public venture capital fund, advises and assists companies from the outset until completion of their foreign investments.

In view of Italian companies’ existing commercial interests, under the agreement, Algeria, Dubai and other Gulf countries, Libya, Turkey, India and Vietnam, will be treated as high priority countries for mutual presentation of projects and joint support for companies taking steps to expand internationally.