Italian shipbuilder Fincantieri has secured an €800m ($847m) ‘sustainability loan' to help strengthen its financial structure.
The state-guaranteed funding will be loaned over a period of five years. It is provided by several banks and is tied to the shipbuilder’s performance on a range of green issues.
Some 70% of the loan is guaranteed by finance and insurance group SACE, which is directly controlled by the Italian Ministry of Economy and Finance.
