PFC and SACE Collaborate Boosting India-Italy Relations Together

24 Feb, 2024

PFC and SACE Collaborate Boosting India-Italy Relations Together

PFC has entered into a significant partnership with SACE, Italy's export credit agency, as part of its 'Push Strategy' initiative, aiming to enhance cooperation between India and Italy. This collaboration marks a milestone for PFC, becoming the first government entity in India to join hands with SACE under this program.

Under the agreement, PFC will benefit from an 80% guarantee from SACE, with HSBC playing a crucial role as the coordinating bank, lead arranger, and facility agent. This arrangement opens avenues for financing up to 200 million euros, facilitating access to Italian technology and fostering collaboration between Indian project owners and Italian companies.

Parminder Chopra, Chairman and Managing Director of PFC, expressed enthusiasm about this pioneering deal, emphasizing PFC's commitment to exploring innovative foreign currency borrowing avenues. This strategic alliance aligns with SACE's 'Push Strategy,' aimed at bolstering business ties between India and Italy while providing Indian sectors like power and infrastructure access to Italian technologies.

The partnership underscores PFC's proactive approach to fostering international collaborations for mutual benefit. It sets a precedent for future endeavors and is expected to significantly contribute to strengthening India-Italy business relationships, fostering technological exchange, and driving growth in key sectors