Business Forum • 10 July, 2024 at 3:52 PM
Intesa Sanpaolo Bank, the local subsidiary of Intesa Sanpaolo Group, continues to support the development of sustainable agriculture in Romania, recently granting a working capital loan of RON 1.35 million to Ultragreens. The financing is granted for a period of 36 months and is guaranteed by the Rural Credit Guarantee Fund (FGCR), under the IMM Plus program.
Ultragreens is a reference company in the field of sustainable agriculture, microplant production and has significant experience in the development of indoor vertical farms with hydroponic cultivation of different leafy vegetable species. With the financing provided by Intesa Sanpaolo Bank, the company will be able to expand its production capacities to support the expansion and consolidation of its operations on the local and international market, on one hand and the large orders from leading Romanian retail chains and at the same time to optimize its cultivation processes, thus contributing to a cleaner environment, reduced water consumption and negative carbon footprint.
"We stand with companies like Ultragreens that bring innovation and sustainability to the agricultural sector. We strongly believe that such initiatives are essential for the sustainable development of the economy and the protection of the environment. Intesa Sanpaolo Bank Romania is dedicated to provide customized financial solutions to encourage and support businesses that aim to make a positive contribution to the community and industry," said Vlad Ponta, Head of Corporate and SME Division and Deputy Managing Director Intesa Sanpaolo Bank.
"Developing sustainable solutions is essential for 21st century agriculture. Local, predictable, year-round production contributes to regional food resilience and independence. The partnership between Ultragreens and Intesa Sanpaolo Bank Romania is a good example of the combination of innovation and visionary investment that can have a long-term impact," emphasized Cristian Tudor, Managing Director of Ultragreens.
This loan is part of a series of strategic measures adopted by Intesa Sanpaolo Bank Romania to encourage and support businesses that implement green and sustainable practices. FGCR's IMM Plus program provides loan guarantees for small and medium-sized enterprises, facilitating their access to finance and contributing to their sustainable development.
Intesa Sanpaolo Group is aware of the significant impact it has at a global level on the social and environmental context in which it operates, paying particular attention to ESG (Environment, Social, Governance) challenges and issues and supporting public or private institutions that are striving towards sustainable development. Moreover, last year, for the fourth year in a row, the Intesa Sanpaolo Group was again last year named by Institutional Investor, the financial group with the best ESG (Environmental, Social, Governance) program among European banks.