One of Egypt’s leading banking institutions, ALEXBANK, part of the Intesa Sanpaolo Group, has signed a €21 million portfolio guarantee with Cassa Depositi e Prestiti (CDP), covering a lending plafond of €30 million under the TERRA Programme. The agreement was signed during the Italy–Egypt Business Forum and aims to support resilient and sustainable agribusiness development in Egypt.
Backed by the European Union guarantee under the TERRA Programme (TERRA Guarantee), ALEXBANK will be able to extend financing to microenterprises operating in Egypt’s agrifood sector (mainly small farmers), with the aim of improving their access to finance and supporting the resilience and sustainable development of the local agrifood value chain. In this context, the transaction represents a core component of the broader investment synergy between Italy’s Mattei Plan for Africa and the European Union’s Global Gateway strategy, as a result of the Global Gateway–Mattei Plan summit held in Rome on 20 July 2025, attended by Italian Prime Minister Giorgia Meloni and European Commission President Ursula von der Leyen.
The transaction is fully aligned with the Mattei Plan and the EU’s flagship Pact for the Mediterranean, as well as its Global Gateway Strategy, particularly with its objectives related to sustainable economic growth, resilient agribusiness systems, job creation and financial inclusion. Through the mobilisation of EFSD+ resources, the operation exemplifies the Team Europe approach by combining EU budgetary support and CDP’s financing capacity to expand access to finance for underserved agricultural microenterprises in the country.
TERRA is an EU-supported programme promoted by CDP to accelerate the transition towards more sustainable and resilient agrifood systems by strengthening access to finance for businesses operating across Africa’s agrifood value chains. The operation also contributes to the EU–Egypt Strategic and Comprehensive Partnership and the Pact for the Mediterranean, supporting their common objectives of mobilising sustainable investment, strengthening private-sector development and building more resilient and integrated economies in Egypt and across the Mediterranean.
Through this transaction, CDP further strengthens its role as Italy’s Financial Institution for International Development Cooperation, mobilising European resources and working with the best local financial institutions to support inclusive and sustainable private-sector growth in key partner countries. The initiative also contributes to the objectives of Italy’s Mattei Plan for Africa, which identifies Egypt as a strategic partner and promotes sustainable agricultural development, financial inclusion and economic opportunities for small farmers and agricultural microenterprises.
EU’s Head of Delegation to Egypt, H.E. Angelina Eichhorst said: “The European Union’s partnership with CDP reflects a shared commitment to supporting Egypt’s sustainable and inclusive development. Through our joint initiative under TERRA programme, we are promoting food security, decent jobs creation, and strengthening rural prosperity to build a more sustainable and climate-resilient agricultural sector.”
Carlo Rossotto, Director of Development Cooperation and International Institutional Relations at CDP stated: “Supporting small farmers means supporting the resilience of entire communities. Through this partnership with ALEXBANK, and with the backing of the European Union, we are helping expand access to finance where it can generate the greatest economic and social impact”
In this context, Mr. Paolo Vivona, CEO & Managing Director of ALEXBANK, commented: “We are honored to collaborate with Cassa Depositi e Prestiti and the European Union. This partnership reinforces ALEXBANK’s longstanding commitment to the agribusiness sector and builds on our continuous efforts to empower MSMEs and expand access to financial services across Egypt’s agricultural ecosystem. By strengthening the agrifood value chain, we are helping create greater opportunities for sustainable growth and enabling farmers to play a more active role in the Egyptian economy. This agreement further underscores our role as a trusted partner in Egypt’s economic development and our dedication to advancing inclusive growth, in line with the broader vision of the Intesa Sanpaolo Group.”
Paola Papanicolaou, Chief of the International Banks Division at Intesa Sanpaolo stated: “I am particularly pleased about today’s transaction between Intesa Sanpaolo’s Egyptian bank ALEXBANK and Cassa Depositi e Prestiti (CDP). It strengthens collaboration between Italy and Egypt and represents a further step in Italy’s Mattei Plan for Africa. Through ALEXBANK, our Group is an integral part of the Egyptian economy and benefits from a unique position that no other major Italian bank enjoys, combining a deeply rooted local presence with the international expertise of one of Europe’s leading banking groups. I am fully confident that Italy and Egypt can build an even stronger economic bridge across the Mediterranean, connecting Europe, Africa and the Middle East. This is the partnership that Intesa Sanpaolo and ALEXBANK are committed to supporting and fostering over the long term.”
