(Finance) – Believe me has signed an agreement with the European Fund with the aim of supporting the creation, growth and development of small and medium-sized enterprisesto offer financing to client companies that intend to invest in projects to improve environmental sustainability performance with the guarantee of the EIF.
The product “FEI – Sustainability” aims to guarantee 70% of the amount of finalized mortgages dedicated to companies intending to activate ecological transition projects, green and eco-sustainable investments. These loans will allow small and medium-sized business customers to apply from a minimum of 25 thousand euros up to a maximum amount of 1.5 millions of Euro. The eligibility criteria have been designed by the EIF based on the principles of the European Taxonomy for Sustainable Finance and this product intends to actively contribute to the EU’s objective of progressively reducing greenhouse gas emissions and the transition towards a neutral economy in terms of carbon emissions by 2050.
The new product is part of the “InvestEU“, EIF program to support investments in various areas and strategic sectors of the European economy. Last June Credem signed an agreement with the EIF which makes a portfolio available to the Institute amounting to a total of 790 million euros divided over three guarantees: in addition to the aforementioned “Sustainability”, there is in fact a product dedicated to innovation and digitalisation (“Innovation & Digitalisation”) and another intended for the support of SMEs (“Sme Competitiveness”).
“We believe that companies of all sizes should become aware that the ecological and energy transition is no longer a simple “nice to have”, but a crucial challenge, which is already influencing their ability to compete and grow. Precisely for this reason we want to be alongside businesses not only through financing products aimed at sustainability, but also with consultancy services to guide their transformation path, the same path that Credem is facing in its business context”, declared Maurizio Giglioli, Credem Marketing Director.
Credem has accepted the challenge of environmental sustainability and is playing a fundamental role in allocating financial resources towards sustainable productive activities. The commitment is aimed at the transition towards models of greater environmental, social and governance sustainability that affect the entire economic system. The financial sector must also work to make its contribution and Credem is aware of the need to improve its direct impacts on the environment and society, also seizing the opportunity to structure products and services that respond to new customer needs.
The initiative “Sustainability” launched with the EIF is therefore part of a broader strategy of the Group which has the objective of measure and manage environmental and climate risks also connected to customer financing as required by the European Supervisory Authorities. The Institute is in fact preparing new tools to support companies in the transition towards processes with lower carbon emissions or which in any case lead to a reduction in environmental impacts.
Credem has also undertaken a new relationship of collaboration with Cassa Depositi e Prestiti (CDP), by accessing the Sustainable Growth Fund and the sums made available, also in this case, by MIMIT. The instrument adopted is the Business Revolving Fund, with a loan made up of a non-repayable contribution, a subsidized portion granted at a fixed rate of 0.5% and a bank portion negotiated with the customer at market conditions. The benefits of the Fund for this instrument are intended for the promotion of research, development and innovation programs or for investments of an innovative nature, high sustainability and which take into account social impacts within the scope of the ecological and circular transition objectives of the “Green and Innovation” Deal”.