Cassa Depositi e Prestiti (Cdp) and Bank of Alexandria SAE (Alexbank), a bank of the Intesa Sanpaolo Group, signed a €21 million guarantee agreement in Cairo to support microenterprises in the Egyptian agri-food sector, with a particular focus on small-scale farmers. The agreement, signed on September 3, 2026 on the sidelines of the Italy-Egypt Business Forum, is part of the Transforming and Empowering Resilient and Responsible Agribusiness (Terra) Programme and will enable the activation of a financing portfolio of up to 30 million euros.
The CDP guarantee is fully counter-guaranteed by the European Union and will be able to cover up to 70% of losses on the loan portfolio. The goal is to expand access to credit for local businesses and foster the growth of the Egyptian agri-food sector through more advantageous financing conditions.
Italy and Egypt, a strategic partnership
The signing ceremony took place in the presence of the Vice President of the Council and Minister of Foreign Affairs and International Cooperation Antonio Tajani, of the Minister of the Environment and Energy Security Gilberto Pichetto Fratin and of the Minister of Labor and Social Policies Marina Calderone.
The event was also attended by Egyptian Minister of Investment and Foreign Trade Mohamed Farid Saleh and the Minister of Foreign Affairs of the Arab Republic of Egypt Badr Abdelatty. The presence of representatives of the two governments underscores the strategic importance attributed to the economic and institutional relations between Italy and Egypt.
Through the Earth ProgramCDP aims to strengthen the resilience of African agri-food supply chains and support the development of the private sector in partner countries, facilitating access to finance for businesses and economic operators.
The operation also fits in within the framework of the Mattei Plan for Africa and the European Union's Global Gateway strategy, with particular reference to the objectives of sustainable economic growth, resilience of agri-food systems, job creation, and financial inclusion.
Rossotto: "Supporting small farmers means promoting resilience."
For Carlo Rossotto, Director of Development Cooperation and International Institutional Relations at CDP, supporting small farmers has a value that goes beyond individual financing. "Supporting small farmers means promoting the resilience of entire communitiesThanks to this partnership with Alexbank and the support of the European Union, we are promoting access to credit in contexts where it can generate the greatest economic and social value, contributing to more inclusive and sustainable development,” Rossotto emphasized.
The operation thus confirms the CDP's role as an Italian financial institution for International Development Cooperation, committed to mobilizing European resources and developing partnerships with leading local financial institutions.
The European Union: food safety and jobs
The initiative is also seen as a tool to strengthen the sustainability and resilience of Egypt's agricultural sector. HE Angelina Eichhorst, Head of the EU Delegation to Egypt, said: "The partnership between the European Union and CDP reflects a shared commitment to supporting Egypt's sustainable and inclusive development. Through our joint initiative under the Terra Programme, we promote food security, create decent jobs, and strengthen rural prosperity, helping to build a more sustainable and climate-resilient agricultural sector."
Financial support for agricultural micro-enterprises it is therefore linked to a broader strategy, which aims to strengthen agri-food supply chains and the economies of rural areas.
Alexbank: "New opportunities for sustainable growth"
For Alexbank, the agreement represents a further step in its efforts to support Egyptian businesses and the entire agricultural supply chain. Paolo Vivona, CEO and General Manager of Alexbank, stated: "We are honored to collaborate with Cassa Depositi e Prestiti and the European Union. This partnership reinforces Alexbank's long-standing commitment to supporting the agri-food sector and is part of our long-standing commitment to supporting micro, small, and medium-sized enterprises and expanding access to financial services along the entire Egyptian agricultural supply chain."
“By strengthening the agri-food value chain, we contribute to creating new opportunities for sustainable growth and enabling farmers to play an increasingly active role in the country's economy,” added Vivona. “This agreement further confirms our commitment role of reliable partner for Egypt's economic development and our commitment to promoting inclusive growth, in line with the broader vision of the Intesa Sanpaolo Group,” concluded the CEO of Alexbank.
Intesa Sanpaolo: "An even stronger economic bridge across the Mediterranean"
The transaction also consolidates Alexbank's role within the Intesa Sanpaolo Group and strengthens economic cooperation between Italy and Egypt. Paola Papanicolaou, Head of the International Banking Division of Intesa Sanpaolo, emphasized: "I am particularly pleased with the transaction concluded today between Alexbank, Intesa Sanpaolo's Egyptian bank, and CDP. It strengthens the collaboration between Italy and Egypt and represents a further step forward in the 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 experience of one of Europe's leading banking groups,” added Papanicolaou.
“I am fully convinced 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 promoting in the long term,” he concluded. The agreement between CDP and Alexbank is therefore part of a broader cooperation strategy between Italy, Egypt, and the European Union, with the agri-food sector at the center of initiatives to promote access to credit, sustainable growth, and private sector development.
