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News

SACE and illimity Bank join forces

Wednesday 13 December 2023 10:40 CET | News

SACE and illimity Bank have partnered to strengthen Italy’s sustainable transition, supporting businesses in their investments to reduce environmental impact. 

 

As per the official announcement, the partnership is set to enable illimity Bank to make the SACE guarantee available to companies for use in their plans for climate change mitigation and adaptation, pollution prevention and control, the protection of water and marine resources, protection and restoration of biodiversity and ecosystems, sustainable mobility, and the circular economy, in line with the Green New Deal and the European Union taxonomy.

SACE and illimity Bank have partnered to strengthen Italy’s sustainable transition, supporting businesses in their investments to reduce environmental impact.

 

Moreover, businesses, a limited number of companies with a turnover of up to EUR 500 million, will be able to benefit from SACE’s 80% Green Guarantee, granted at market conditions through a fully standardised and digitalised process. 

To make the Green Guarantee even more accessible, SACE has simplified and further digitalised the process, improving the customer experience. Among the improvements is an increase in financing flexibility, including the possibility of multiple disbursements. The press release highlights that the new means of accessing the Green Guarantee is a further important step in the set of digital transformation goals that SACE is pursuing in line with the strategy and objectives of its INSIEME 2025 business plan. 

Officials from SACE state that businesses that invest in sustainability are more competitive and resilient and this holds for SMEs, which are a pillar of its INSIEME 2025 business plan. 

About SACE 

SACE is an Italy-based insurance and finance group controlled directly by the Italian Ministry of the Economy and Finance, specialising in supporting businesses and the national economy through a wide range of tools and solutions to improve competitiveness in Italy and worldwide. Through its financial guarantees, it also supports the banking system in facilitating companies’ access to credit, in order to assist their liquidity and investments for competitiveness and sustainability as part of Italy’s Green New Deal, starting from the domestic market.  

About illimity Bank

Based in Italy, illimity is a high-tech banking group that was created with the aim of responding to specific market needs by way of an innovative and specialist business model. illimity extends financing to high-potential SMEs, purchases distressed corporate loans and services these through its platform ARECneprix and provides digital direct banking services through illimitybank.com. illimity SGR, which sets up and manages alternative investment funds, the first of which dedicated to UTP loans, is also a member of the Group. 

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Keywords: partnership, banking, sustainability , digital banking
Categories: Banking & Fintech
Companies: illimity
Countries: Italy
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Banking & Fintech

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