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An EBRD delegation visits San Marino

A delegation from the European Bank for Reconstruction and Development (EBRD), comprising of Mr Edward Bannerman, Director of Shareholder Relations, Office of the EBRD Secretary-General, Mr Carlos Domingues, Alternate Country Director for San Marino, Mr Milton Stefani, Regional Head, Manufacturing and Services (M&S) and Mr Enzo Helou- Associate, Business Development embarked on an official visit to San Marino, spanning from 24-26 April 2024. This event marked the first visit of an EBRD delegation to San Marino and was organised by Consul & Alternate EBRD Governor, Prof Maurizio Bragagni Esq OBE.

The visit started with a joint meeting, where the EBRD delegation met with the Secretary of State for Foreign Affairs, International Economic Cooperation and Telecommunications, HE Dr Luca Beccari, and the Secretary of State for Finance and Budget & EBRD Governor, HE Dr Marco Gatti. During this meeting, both parties expressed mutual satisfaction with the level of political cooperation and expressed their commitment to work together in exploring untapped opportunities in boosting San Marino companies’ participation in the EBRD projects in its countries of operation

The mainstream activity was the round table with business and industry representatives, which provided around 30 participants the opportunity to listen to the presentations from the EBRD and the the Economic Development Agency – Chamber of Commerce of San Marino and explore the business opportunities created by the EBRD in around 50 countries. The EBRD delegation informed on the following three channels through which EBRD can help San Marino companies: Financing of investments (Capex, working capital), Procurement and Trade Facilitation Programme.

The fact that EBRD delivered a record €13.1 billion in investments across its countries of operation’s economies in 2023 with a total number of 463 new projects, encouraged the Sammarinese business to work toward strengthening or developing new manufacturing capacities to be able to enter into partnership with the EBRB. The round table gave the Sammarinese business and industry representatives a clear understanding of what is EBRD and what projects it involved, while the EBRD representatives got a clear overview of Sammarinese business and industry capabilities.

During their visit to San Marino, aiming at boosting political & economic cooperation between San Marino and the EBRD, members of the EBRD delegation met with several government representatives. Also, they had the opportunity to enjoy the Sammarinese hospitality and explore its history, culture and traditions. They witnessed firsthand how San Marino, the oldest democracy in the world, never disappoints its guests. 

The visit unequivocally demonstrated the support of San Marino for the EBRD mission and its work in the countries of the EBRD operations. It also emphasized the need for the EBRD to consider exploring untapped economic opportunities with small countries, such as San Marino.