Catalan SMEs will be able to access loans of up to 500,000 euros to develop projects to improve their energy efficiency or generate their own solar power, for investments involving renewables, recycling and waste treatment, and other environmentally-friendly initiatives.
Barcelona, 31 January 2020. The Institut Català de Finances (ICF) and Avalis de Catalunya, a mutual guarantee company, have launched a new financing line to encourage green investments, such as those linked to energy efficiency, in line with the United Nations’ Agenda 2030 Sustainable Development Goals.
A total of 60 million euros has been allocated to this fund, aimed at SMEs based or operating in Catalonia, ideally with between 10 and 250 employees, who wish to develop projects to improve their energy efficiency or generate their own solar power, or invest in renewables, recycling and waste treatment, and other environmentally-friendly initiatives.
The CEO of the ICF, Josep-Ramón Sanromà, believes that “this new financing line confirms the commitment of both the ICF and Avalis to contributing to the sustainable development of the Catalan economy, providing funding to companies planning investments that guarantee supplies of accessible, safe, sustainable and environmentally-friendly energy”. He argues that “as a public body, the ICF sees it as a priority to encourage the energy transition of Catalan companies while ensuring their long-term sustainability”.
The CEO of Avalis de Catalunya, Josep Lores, spoke about the guarantee provided by Avalis, noting that “emissions figures for the last four years have only served to confirm the most pessimistic forecasts. It is vital that everyone involved works to ensure that projects designed to transition society to green energy can be developed as quickly as possible”.
The amounts available under the new line of green loans (“ICF Avalis Verd”) range from 25,000 euros to 500,000 euros. The loan period will be up to ten years, with the possibility of a period of grace of up to two years.
This new financing line complements the range of funding solutions the ICF makes available to companies and institutions for sustainable, social and environmental investments. The ICF offers specific loans for initiatives related to the green economy and the circular economy, as well as funding to expand social housing stocks.
About the ICFThe ICF is the public financial entity of Catalonia. It has as a main mission to promote the funding of the entrepreneurial fabric in Catalonia in order to contribute to the growth, the innovation and the sustainability of the Catalan economy. In this sense, it commits itself actively to the achievement of the Objectives of Sustainable Development in accordance to the Agenda 2030 of the United Nations.
The ICF acts as complement of the private financial sector, offering an extense range|gamma of solutions of funding centered on loans, guarantees and investment in venture capital. Since 2014 it is a member of the European Association of Public Banks|Benches (EAPB), that he|she groups big part of the banks|benches and the public financial entities that work in Europe.
About Avalis de Catalunya
The mission of Avalis de Catalunya, S.G.R., a non-profit organization, is to help SMEs and the self-employed in Catalonia access credit and obtain better financing terms by providing guarantees to financial institutions and the ICF. Likewise, it aids with the bidding and execution of public tenders.
The institutional partners of Avalis de Catalunya include the Generalitat de Catalunya, the Institut Català de Finances, industry organizations such as Foment de Treball and PIMEC, as well as almost all financial institutions operating in Catalonia.