Barclays Corporate Banking has launched a new product designed to help businesses with their working capital needs when pursuing sustainable activities. Green Trade Loans are part of the bank's push to boosting investment in green projects. The product focuses on tackling funding challenges related specifically to trade and working capital financing.
Complete supply chain support
The bank said in its announcement that accessing the right funding options can be crucial for businesses who are attempting to reduce their environmental impact alongside their day to day business activities.
The Green Trade Loan will provide a complete supply chain finance service that spans the supply chain: it supports funding requirements from the initial purchase stage through to payment from buyers, helping businesses to plan and manage their cash flow more accurately.
Bringing green finance into the mainstream
Barclays is also working with UKEF, the UK’s export credit agency, to help exporters access the finance they need to sell their green products and services overseas. Projects eligible for Barclays Green Trade Loans may also benefit from UKEF’s Export Working Capital Scheme, allowing the bank to support a wider range of sustainable initiatives.
This is the latest example of Barclays’ commitment to unlock access to green finance being driven by its Green Banking Council. Dr Rhian-Mari Thomas, Chair of the Barclays Green Banking Council, commented: “The Barclays Green Trade Loan adds to our growing green corporate banking proposition and furthers our ambition to bring green finance into the mainstream for all our customers and clients.”
CTMfile take: This product for green business is part of a growing range of options available to corporate treasurers looking for supply chain or export financing to support low carbon, sustainable trade.
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