Middle East Economic Survey


No 39



SACE Signs MENA Surety Bond Agreement With Europe Arab Bank

Italian export credit agency (ECA) SACE has signed an agreement with Europe Arab Bank (EAB) to supply Italian companies in the MENA region with surety bonds. Surety bonds are a type of guarantee, in the form of credit rather than insurance. Under the terms of the agreement, EAB will act as a local fronting bank to issue surety bonds with SACEs guarantees in the 15 countries...