The Italian Ambassador to the Philippines, Davide Giglio, attended the signing ceremony of the agreement between the Italian export credit agency SACE and the Philippine conglomerate San Miguel Corporation, marking the official launch of SACE’s Push Strategy in the country. Also present at the event was Ramon S. Ang, Chairman and CEO of San Miguel Corporation, underscoring the strategic importance of the partnership.
The agreement, signed by Michal Ron, Chief International Business Officer at SACE, provides for a $600 million loan, arranged in collaboration with the Japanese bank Sumitomo Mitsui Banking Corporation (SMBC) and guaranteed by SACE. The initiative aims to support San Miguel Corporation’s strategic projects in key sectors such as energy, infrastructure, and food & beverage, while promoting the involvement of Italian companies in the related supply chains.
This marks a concrete step toward strengthening bilateral economic relations between Italy and the Philippines. SACE’s Push Strategy – launched in 2021 to support the internationalization of Italian companies through structured partnerships with selected foreign counterparts – facilitates access for Italian excellence to high-potential markets like the Philippines.
“This agreement,” stated Ambassador Giglio, “is an important recognition of the quality and competitiveness of the Italian industrial system and reflects the growing interest in a closer economic collaboration between our two countries. It is a virtuous model that we hope can be replicated in other sectors as well.”
Through this agreement, Italy confirms its role as a reliable partner in the sustainable and innovative development of the Philippines, while further strengthening the global presence of Italian enterprises.
SACE: Official Press Release
