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BusinessAbanca and the CEG sign a 600 million credit plan to promote...

Abanca and the CEG sign a 600 million credit plan to promote the energy transition of SMEs

Abanca and the Confederation of Businessmen of Galicia (CEG) have sealed an agreement that renews the credit line for companies associated with the Galician employers’ association for a maximum volume of 600 million euros over the next three years in order to promote the energy transition of SMEs.

Abanca and CEG explain that this agreement seeks to support the Galician business fabric in the transition process towards a more sustainable energy model, which contributes to minimizing climate change.

The credit will be used to finance projects and business investments aimed at incorporating energy based on renewable sources, as well as more efficient and innovative systems and technologies that enable lower energy consumption.

Botas has highlighted “the bank’s firm determination” to help the productive fabric and society as a whole on the path to sustainability. With this new financing commitment, he added, “we want to accompany large, small and medium-sized companies” in the face of this enormous green transition challenge and decarbonization of production, which will be essential not only for its future competitiveness, but also for building a more sustainable society,” he stressed.

For his part, Juan Manuel Vieites points out that this agreement is “an excellent opportunity” for companies interested in adopting renewable technologies and efficient. It facilitates access to credit, allowing the implementation of projects that reduce long-term operating costs and improve environmental sustainability.

Financial offer

The financing It is instrumentalized through an adapted offer with specific solutions and under special conditions, which includes, among other formulas, loans, guarantees and advances of Next Generation European aid. In fact, in the coming months, new calls for aid are expected to be opened within the framework of the strategic economic recovery and transformation projects (Perte), as well as other programs aimed at smaller companies.

Through these public funds, investments will be promoted for the decarbonization industrial and the development of electric mobility, which must be completed with private financing. Abanca will also provide CEG associates with its knowledge in the development of energy projects.

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