MOSCOW, Nov 2 (PRIME) -- Gold producer Polymetal International has become the first Russian mining company to raise a green loan after opening a U.S. $125 million credit with Societe Generale to finance projects to switch to sustainable low-carbon production, the company said.
“Societe Generale will provide a 6-year loan with a 3-year grace period under the Green Financing Framework which specifies eligible ESG projects and criteria for their long-term funding. The loan can be extended to 7 years on the first anniversary of signing,” the company said.
“The loan proceeds will be allocated to the projects of the following categories: clean transportation, renewable energy, energy efficiency and sustainable waste and water management projects, which contribute to Polymetal’s sustainability goals and actions against climate change.”
Polymetal will distribute the loan among the projects in 24 months from the first utilization.
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