Italian export credit agency (ECA) Sace, has guaranteed a €30mn loan issued by Crédit Agricole (agency bank) and Banca Popolare di Milan for Italian plastic bottle packaging firm Serioplast.

The loan will be used to support the company’s 2016-2020 investment plan, which will focus on buying new production equipment and technologies to target growing international demand in EU markets and Russia.

Sace has already guaranteed three loans for new production facilities abroad, including initiatives in Turkey, Russia and South Africa.

Serioplast, in business since 1974, has 22 factories worldwide and serves the home care, personal care, food & beverage and pharmaceutical sectors.