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The
Italian Commodity Aid Programme allocates a total of 31 millions
Euro to import in Egypt essential commodities, goods, equipment
and services thereto connected produced in Italy.
Egyptian Public and
Private organisations, including Joint Ventures, and
Egyptian entrepreneurs are eligible to participate in the programme
and a Loan in local currency is available for the
repayment of the supply to the Egyptian Government.
Funds pursuant to this
programme should be used to import from Italy:
-
Basic goods and capital goods,
including materials and equipment.
-
Services
related to the supplies, including installation, assembling, training
and operation of machinery and equipment.
Main
fields of interest -but not the only ones- are:
agriculture and irrigation, industry, health, environment
and tourism with particular attention to activities related to
industrial revamping, integrated rural development and basic needs of
new urban communities (for further details about the field of credit
interest, please contact the Ministry of Foreign Affairs, International
Co-operation Sector or the Italian Embassy in Cairo at the addresses
showed at the end of this presentation).
The goods imported
should not be resold for a period of at least four years.
The Person in Charge
of the Egyptian Ministry of Foreign Affairs, International Cooperation
Sector, assisted by the Expert of the Italian Embassy in Cairo,
coordinates the activities of the programme.
The National Bank of
Egypt is responsible for commercial contracts and credit management with
the Beneficiary. The Banca IMI Sanpaolo di Torino is the Agent Bank in
charge to pay the Italian suppliers.
Minimum allowed
transaction: € 60.000
Maximum allowed
transaction: € 1.750.000
The Italian supplier
is selected a public tender in Italy managed by an Italian
Procurement company with the supervision of the Italian Ministry of
Foreign Affairs.
The award of the
contract to the selected supplier is responsibility of the Person in
Charge in agreement with the beneficiary and according with the
Italian laws for public tenders. An Italian Supervision company is
appointed to check the different phases of the supply and the congruity
of the prices.
Terms and Conditions
for Payment of the goods
Commitment Bond:
2% (two per cent) of the estimated value of the commodities, to
be paid by the Beneficiary before the floating of the tender in Italy as
a guarantee to maintain the request of supply.
Down Payment:
20% (twenty per cent) of the total price awarded (it will include
the Commitment Bond already paid), to be paid by the Beneficiary within
30 days from the signature of the Supply Contract.
The remaining 80%
of the payment will be paid by the Beneficiary to the Programme trough a
Loan Agreement with the National Bank of Egypt at the following
conditions:
Credit Interest
Rate: 4% (four per cent) per annum – fixed, simple. Interest
will be calculated also during the Grace Period.
Grace
Period: 12 months starting from the date of the first
shipment of commodities/goods from Italy.
Residual
payment: within 3 years trough 6 equal semi-annual
installments. The first installment
falling is due 6 months after the expiring of the Grace Period.
Exchange
Rate: it will be fixed according with the date of signature of
the Contract of supply by the Person in Charge.
Bank
Fees: to be fixed with the National Bank of Egypt and paid
by the Beneficiary.
Custom
Duties: to be paid by the Beneficiary.
Letter of
Credit: to be opened at the counters of the Agent Bank in Italy
by the National Bank of Egypt within 30 days from the date of receipt of
the Contract of supply by the Person in Charge.
The fees of the L/C will be at charge of
the Beneficiary.
The Application
Form, including a detailed list with specifications of the goods
and services requested, should be presented to:
Ministry
of International Co-Operation
European
Co-operation Sector
Italian Commodity
Aid Programme
The Person in Charge
8th floor - 8, Adly
Street - Cairo
For further
information please contact in Cairo:
Ministry
of International Co-Operation,
European
Co-operation Sector
Madame Zahia M. Abu
Zeid, Under Secretary for Cooperation with Europe
Tel.
0020-2-390.1801/391.6791/391.6653
Fax. 0020-2-391.0344
Mr. Osama Abd El Aziz
(Program Support Unit Contact Person)
Tel. 391.6653 /
391.6379 / 390.8162 - fax 391.0344
Italian Embassy in
Cairo:
Mr. Annibale Angelozzi
Italian Commodity Aid
Programme Manager
1081, Cornishe El
Nile, Garden City
Tel.: 794.1841/
796.2358 / tel. & fax: 792.0272
E-Mail:
commodity.egitto@esteri.it
National Bank of Egypt
(for further Loan Agreement information):
Mr. Abdel Razek M.
Diab, General Manager Documentary Credit, National Bank of Egypt,
Documentary Credit Central Unit, 24 Sherif St. (4th floor)
Tel. 0020-2-392.9972
Fax 0020-2-393.6777
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