Social projects now qualify for the Credendo Green Package

• The Credendo Green Package was launched in October 2022 to support environmentally-friendly projects by offering them advantageous conditions.
• The granting of the advantageous conditions of the Credendo Green Package is now extended to social projects.
• Since its launch, 41 transactions have benefited from the Credendo Green Package, representing cover for an amount of € 2.24 billion.

Credendo Green Package

Launched in 2022, the Credendo Green Package aims to support clients in transactions and investments into projects that contribute to achieving the United Nations Sustainable Development Goals and the climate goals of the Paris Agreement to limit global warming to 1.5°C by the end of this century. Activities and transactions that meet the eligibility criteria can benefit from the best insurance and investment conditions.

“Green projects” are projects that contribute directly or indirectly to reducing greenhouse gas emissions in the atmosphere, vulnerability of human or natural systems to climate change, or to achieving environmental sustainability (e.g. through waste minimisation, circular economy, etc.).

Broadening our offer to social activities

Now, Credendo has decided to expand the eligibility criteria of its Credendo Green Package to social projects next to environmental projects or transactions. “We wanted to extend our support to socially responsible activities that contribute to the development of the countries where our exporters are active,” said Nabil Jijakli, Deputy CEO of Credendo. “The incentives now also apply to projects in the field of health, such as hospital infrastructure or medical waste recycling. We also support projects in the fields of education and training, critical infrastructure and transport, affordable housing, food security and resilient agriculture practices. Any exporters involved in these activities are now also eligible for the Credendo Green Package.”

In order to keep evolving with technological and policy developments, some environmental activities have been updated and some have been added. Our list of green activities now includes the construction of facilities for the production of rechargeable batteries, as well as the extraction, recycling, processing and refining of minerals and ores for clean energy.

Advantages of the Credendo Green Package

The Credendo Green Package is a condensed version of Credendo’s most interesting and advantageous conditions. It offers a series of incentives to businesses and banks, whose activities meet the eligibility criteria and application process. The advantages of the Credendo Green Package supplement the offer of Credendo in the following product categories: export credit insurance, financing and financial guarantees.

The main incentives include, amongst other things, a higher insured percentage (98%), lower thresholds for the Belgian content of a transaction (minimum threshold of 20%), higher participation in financial guarantees, more funds for own financing of transactions with an increase in maximum amounts (up to € 15 million) and longer repayment periods (up to 10 years).

Who can apply?

International projects must have Belgian roots, but access to cover is also granted to domestic sustainable transactions with export potential. Whole projects can be considered but subcontractors who only contribute to part of a larger project can also claim to benefit from the Credendo Green Package.

To be eligible for support from Credendo, the project or transaction must be included in one of the subcategories of Credendo’s list of environmental activities (energy, manufacturing, construction and renovation of buildings, agriculture, forestry and land use, pollution prevention, waste management and water management, transport, climate adaptation and advisory services) and/or social activities (affordable housing, electricity generation, infrastructure project to increase resistance to climate-related events, transport, water, education, healthcare, employment generation, food security and sustainable food systems).

Moreover, the projects must not cause any foreseeable significant residual negative impact on the environment or society and respect the principles of good governance.

Find out more details in our brochure and leaflet.

Spokesperson:                
Nabil Jijakli                    
Deputy CEO                    
rue Montoyerstraat 3                
1000 Brussels                    
E n.jijakli@credendo.com
M +32 478 25 11 33

Press contact:
Griet Van Gorp
Content and Press Relation Specialist
E g.vangorp@credendo.com 
M +32 473 33 20 50