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LoginQatar Development Bank and SACE Sign Export Credit Reinsurance Agreement
Prague, June 12 (QNA) - Qatar Development Bank (QDB) and SACE S.p.A., Italy's export credit agency and one of the world's leading Export Credit Agencies (ECAs), have signed an export credit reinsurance agreement aimed at supporting joint export transactions involving Qatari and Italian companies in third-country markets.
The agreement was signed on June 11 on the sidelines of TXF Global 2026: Export, Agency and Project Finance in Prague and establishes a framework to help exporters from both countries pursue larger international projects with enhanced risk-mitigation support.
Under the arrangement, QDB and SACE will cooperate in supporting transactions where Qatari and Italian companies jointly provide goods or services to buyers outside their domestic markets. The framework is designed to facilitate cross-border export opportunities while providing a structured mechanism for managing commercial risk.
Speaking after the signing, Khalid Abdullah Al Mana, Vice President of Enterprise Development at Qatar Development Bank and Executive Director of Qatar Exports, said the agreement would expand QDB's ability to support Qatar-based exporters seeking growth opportunities abroad.
"This agreement represents a significant extension of QDB's export-support capabilities and reinforces our commitment to equipping Qatar-based companies with the tools they need to grow beyond local markets," he said.
Al Mana added that the framework would enable Qatari exporters to pursue larger international opportunities alongside Italian partners, supported by stronger institutional backing and clearer risk-management mechanisms. He said the initiative also supports Qatar's efforts to diversify its economy in line with the priorities of Qatar's Third National Development Strategy 2024–2030.
Meanwhile, Mario Melillo, Chief Network Officer at SACE, described the agreement as a practical platform for strengthening cooperation between Italian and Qatari companies in international markets.
"We are pleased to partner with Qatar Development Bank through an agreement that creates a practical platform for stronger cooperation between Italian and Qatari companies in third markets," he said.
According to SACE, the framework provides a structured basis for supporting export transactions involving both Italian and Qatari content while encouraging deeper economic cooperation between Italy and Qatar.
The agreement introduces a coordinated approach under which one institution can lead export credit coverage while the other supports the portion linked to its national exporters. Each transaction will be assessed and approved individually.
A notable feature of the arrangement is its Sharia-compliant structure. QDB's participation will be conducted in accordance with Islamic finance principles, while for SACE the agreement represents its first involvement in a fully Sharia-compliant reinsurance arrangement.
The signing forms part of QDB's broader efforts to strengthen Qatar's export-support ecosystem through partnerships with international export credit agencies and financial institutions.
Through Qatar Exports, QDB provides companies with export development services, market intelligence, financing, insurance and risk-mitigation solutions designed to support international expansion and contribute to the growth of Qatar's non-hydrocarbon export sector. (QNA)
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