Credendo Green Package
Credendo – Export Credit Agency has recently updated its Credendo Green Package, a series of incentives aiming to support the projects and companies that contribute to achieving the United Nations Sustainable Development Goals and the Climate Goals of the Paris Agreement with sustainable projects.
For Credendo, ‘sustainable projects’ are environmentally and socially positive projects.
Environmental projects or transactions have as main purpose the contribution to direct or indirect climate change mitigation, other activities related to environmental sustainability and/or climate change adaptation.
Social projects aim to address or mitigate a specific social issue that threatens, hinders or damages the well-being of society or of a specific target population and/or seek to achieve positive social outcomes.
In terms of incentives, projects eligible for the Credendo Green Package can benefit from the most-favourable conditions in every respect:
- Lower threshold for the Belgian content of a transaction (minimum threshold of 20%)
- Cover at 98% of the total amount for export transactions
- Extension to domestic transactions if the product has export potential
- Up to 80% participation in financial guarantees
- An increase in funds for own financing of transactions with an increase in maximum amounts (up to EUR 15 million) and an extension of repayment terms (up to 10 years)
An additional budget of EUR 100 million has been mobilised to fund sustainable transactions. We will put the spotlight on companies involved in sustainable projects and we will ensure good communication to raise awareness of environmental and social initiatives among our clients and the business community.
We have adopted a set of criteria, the Credendo Green List, with the aim of choosing initiatives that really make a difference on the environment and society.
“We really want to encourage all companies to make a commitment to the environment and society and to support them in the transition.”