Cherry Bank, italian bank specialized in business support, in the creation of value from the transformation of NPL portfolios, in the purchase of tax credits and in the Wealth Management sector, has signed with SACE – an insurance-financial group directly controlled by the Ministry of Economy and of Finance and specialized in supporting businesses and the national economic fabric – an important convention relating to Green Guarantees as a tool to support new investments for the ecological transition and the improvement of the sustainability of Italian businesses, especially small and medium-sized ones.
In line with the Green New Deal and the European green taxonomy, the agreement will allow Cherry Bank to offer the SACE Green Guarantee to its client companies in any sector, with a turnover of up to 500 million euros, who intend to finance their green investment projects.
In particular, the objective is to support companies in the various financial needs linked to projects that have positive impacts on the environment and on the reduction of pollution and carbon footprint. In detail, companies will be able to benefit from SACE’s 80% Green Guarantee, issued at market conditions, through a totally standardized and digitalised process.
The amount of the loan with a medium/long term duration assisted by SACE’s Green Guarantee may be between 50 thousand and 50 million Euros and a maximum pre-amortization of 36 months, in quarterly installments at a fixed and variable rate.
The new methods of accessing the Green Guarantee represent a further step forward in SACE’s digital transformation path, consistent with the strategy and objectives of the INSIEME2025 Industrial Plan, facilitating and accelerating the signing of new green agreements.
The agreement is part of the broader path activated by Cherry Bank of attention to ESG issues which also includes the “Cherry ESG circle”, a solution aimed at financing and encouraging the implementation of interventions according to environmental, social and governance values.
Laura Gasparini, Head of Market & Investments at Cherry Bank said “The SACE Green guarantee represents a significant step for Cherry Bank in its commitment towards greater environmental responsibility. The agreement is not only a response to the growing needs of companies to improve their ESG profile, also in light of regulatory obligations and market competitiveness, but constitutes an integral part of our broader commitment to the adoption of green-oriented financial practices and solutions. to environmental sustainability. This collaboration will also allow us to address an ever-increasing number of companies, leveraging our competitive conditions and a growing range of solutions dedicated to corporate clients, today even more numerous thanks to the recent integration with Banca Popolare Valconca”.
Daniela Cataudella, Head of Business Dynamic Solutions at SACE said “With our Green Guarantees, we at SACE have already supported projects in Italy for a total value of 12 billion euros and every day we stand alongside companies to accelerate the transition processes sustainable in all areas and sectors, with positive impacts on their competitiveness and resilience. A commitment that we carry forward together with the main players in the system and Italian financial institutions, such as Cherry Bank, to continue to assist Italian companies, in particular SMEs, which are the pillar of our INSIEME2025 industrial plan.”
