Intesa Sanpaolo Bank, the Romanian subsidiary of the Intesa Sanpaolo Group, recently granted to AS Metal Com SRL a credit facility worth RON 4 million, to ensure the necessary liquidity for the current activity. The facility was approved with a state guarantee, issued by EximBank, within the state aid scheme COVID-19, which it implements, following the special mandate received from the Romanian state.
Through this financing, Intesa Sanpaolo Bank Romania continues to implement the strategy of Intesa Sanpaolo Group to support companies that make efforts to minimize the loss of resources that could re-enter the economic circuit. Intesa Sanpaolo Group, the strategic partner of the Ellen MacArthur Foundation, the most influential and powerful organization dedicated to the Circular Economy, has included in its business plan a credit ceiling of 6 billion EURO through which it offers to customers or innovative projects advantageous credit facilities.
The credit facility to AS Metal Com SRL was granted with the consulting support of the Circular Economy Desk of Intesa Sanpaolo Innovation Center, a company of Intesa Sanpaolo Group dedicated to innovating and spreading the circular economy.
“We are taking important steps to support sustainable business models and offer advantageous financial solutions for innovative companies, which have understood the benefits of the Circular Economy and the need to optimize resource consumption to prevent and reduce waste. We are glad that in partnership with EximBank we can offer support to AS Metal Com SRL which, through its activity, brings sustainability in a field where it is an impact player” said Dan Sandu, CEO of Intesa Sanpaolo Bank Romania
“The state guarantees issued by EximBank under the financial support program for large companies, represent an extraordinary facility which companies, through commercial banks, can exploit for quick access to financing for working capital or investment, while it provides to commercial banks an increased level of confidence in the viability of the financial structures that they offer to customers. In this context, we are delighted that, with partners such as Intesa Sanpaolo Bank Romania, we can contribute significantly both to the development of the local economy and to strengthening the partnership between the business and financial-banking environment “, said Traian Halalai, executive president of EximBank.
“Recycling is a sine-qua-non component of the concept of Circular Economy, but to consider this sufficient is a mistake. The Circular Economy requires industrial recycling processes to respond to a double challenge: development of technologies that allow the treatment of an input of composite metal waste as wide as possible, and the industrial recycling processes must not have an impact on the environment (emissions to soil, air, in water). Solving the two challenges is our ambitious goal that we will surely achieve together with our partners.” said Constantin Apostol, CEO AS METAL COM
“Intesa Sanpaolo recognizes the CE as the driver that aims to increase the efficiency and resilience of economic systems, while maximizing the potential inherent in products, components and materials. Thanks to this approach, the acquisition of a growing level of resilience and efficiency, because of the circular paradigm, opens the way to an overall process of reducing the systemic risk of the economy. Since 2016 our Group is concretely engaged in making sure the CE opportunity is a collective chance to build a more resilient and future proof value creation model for the Italian and European companies, through systemic innovation”, said Guido de Vecchi, General Manager of Intesa Sanpaolo Innovation Center.