A new finance product designed to help Irish businesses achieve their green sustainability goals has been launched by the Strategic Banking Corporation of Ireland (SBCI) and Business Venture Partners (BVP).
The €50m initiative, called the Green Transition Finance product, offers flexible lending to SMEs and Small Mid-Caps investing in sustainable projects or already operating sustainably, subject to specific criteria. Loans range from €500,000 to €5m with terms up to 10 years, featuring competitive rates and flexible repayments to support business growth.
Managed by BVP with funding from SBCI, the product benefits from the InvestEU Sustainability Portfolio Guarantee, operated by the European Investment Fund (EIF).
Finance Minister Jack Chambers praised the fund as an innovative, competitive solution that combines expertise in sustainable investment, backed by the European Investment Bank Group. He encouraged businesses to explore this opportunity.
“It is positive to see the European Investment Bank Group’s backing for this product, which further underlines their strong support for investment in Ireland and Irish businesses. This exciting initiative brings public and private sector together to further us on the transition to achieving Ireland’s climate and sustainability goals,” the Minister said.
European Investment Bank Vice President, Ioannis Tsakiri said, “This unique and visionary cooperation between the EIF, SBCI and BVP will enable sustainable companies across Ireland to grow and accelerate investment to enable businesses to harness renewable energy, cut energy use and adapt to a changing climate.”
BVP’s CEO Elliott Griffin said, “Our objective in launching this exciting new product is to help stimulate green initiatives and decarbonisation projects through the provision of competitive and properly structured finance. This Green Transition Finance product will allow us to actively contribute to the creation of a more sustainable future for us all, by supporting those who are currently constructing it.”
SBCI CEO June Butler said “The Green Transition Finance product provides businesses with the funding needed to achieve their sustainability goals, helping them to remain competitive in a rapidly evolving market landscape. By increasing access to flexible funding, we aim to play a pivotal role in enabling Irish businesses to drive their sustainability initiatives.”