UniCredit and the Export-Import Bank of China (CEXIM) intensify their cooperation in CEE, China and Italy. This is due to the Memorandum of Understanding (MoU) between the two banks, the purpose of which is to assist in establishing and developing long-term relationships in order to promote cooperation between Chinese, Italian and Central Eastern Europe (CEE) companies.
The MoU's aim is to mutually promote business development and client solutions in the areas of project finance (incl. ECA covered financings), energy and infrastructure projects, global transaction banking (in particular settlement services and short-term financings), debt capital markets, global markets, funding support on Italy and CEE local markets and financial advisory (incl. M&A).
The MoU builds upon the strengthening economic and trade cooperation between China and Europe. As of end of 2018, China was the second largest partner for EU exports of goods and the largest partner for EU imports of goods, according to Eurostat.
The MoU will also facilitate cooperation across energy and infrastructure projects which are developed in China, Italy and CEE.
The MoU was signed in Milan, Italy, by UniCredit Chairman Mr. Fabrizio Saccomanni and CEXIM Chairman Ms. Hu Xiaolian.
“This MoU is a concrete step forward in supporting European corporates’ economic growth in China. As a successful pan-European bank, UniCredit is uniquely positioned to support cooperation between Chinese and European companies“- commenting on the MoU, UniCredit Chairman Saccomanni said.
Antoaneta Curteanu, Director of Corporate and Investment Banking and Private Banking Division of UniCredit Bulbank defined the memorandum as an excellent opportunity to develop the relations between Bulgaria and China. “Undoubtedly, China is one of the most dynamically developing economies in the world. Recently we can witness a growing interest in strategic investments by China in Eastern Europe and in Bulgaria, specifically. The Memorandum of Understanding is the exact tool to support and facilitate the companies to realize this business interest” - Curteanu said. She added that UniCredit Bulbank was always the most preferred partner of the international companies in our country and the Memorandum is yet another proof that UniCredit keeps itself focused on its international presence.
The Memorandum of Understanding will support corporate clients, project sponsors and institutions in their international business, in particular as regards transactions in UniCredit’s core markets, namely CEE and Italy. This cooperation instrument will allow UniCredit to strengthen its ties with Chinese corporates and financial institutions, whilst becoming the gateway for these clients as they expanding their business into the bank’s core markets.
Additional media information:
Ekaterina Ancheva, tel +359 (0) 2 9264 963, flbufsjob/bodifwbAvojdsfejuhspvq/ch
Beatris Nikolova, tel +359 (0) 2 9232 528, cfbusjt/ojlpmpwbAvojdsfejuhspvq/ch
Victoria Blajeva, tel +359 (0) 2 9264 993, wjlj/ebwjepwbAvojdsfejuhspvq/ch