Intesa Sanpaolo, through the IMI Corporate & Investment Bank Division, has signed a financing agreement with PreZero for an amount of EUR 70M aimed at achieving specific targets related to the circular economy.
PreZero is a company dedicated to the management of waste and recyclables of the German Schwarz Group with which Intesa Sanpaolo had concluded an additional loan in favor of GreenCycle a year ago. The loan to PreZero is linked, in particular, to the Schwarz Group’s strategy in terms of improving plastic recycling.
“We are delighted to extend our collaboration with a leading international company like PreZero”, commented Mauro Micillo, Head of the Division. “This transaction confirms the increasing focus of both Italian and international industrial groups on products and services tied to sustainability and the circular economy. Providing support and impetus to initiatives such as this is precisely why the Group has decided to include a 6-billion-euro ceiling in the 2018-2021 Business Plan which is aimed at enterprises planning to adopt the circular economy model, offering them the best conditions for securing credit. That is why Intesa Sanpaolo intends to continue to redefine business strategies in an innovative way, guaranteeing financial support for investments to support the redesign of the industrial system.”
