Italian export credit agency Sace is set to invest in €200m ($255m) of new initiatives in Morocco, in an effort to support Italian companies looking to win work in the North African country.

The agency announced its plans as part of its recent trade mission to Morocco.

Sace is looking to support Italian exports of machinery and equipment that will be used within Morocco’s expanding infrastructure and construction sector. Industries such as aeronautics and naval will also be targeted by the agency.

Currently, Sace provides export credit insurance to about €70m-worth of Italian exports to Morocco. Total Italian exports to the country exceeded €1.5bn in 2013, a 12 per cent increase on the previous year.

Morocco is one of several emerging markets Sace has identified as having a low-to-medium, but improving, risk profile that could be highly lucrative for Italy’s exporters.