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Virgin Money launches sustainability-linked loans for UK firms - Metro US

Virgin Money launches sustainability-linked loans for UK firms

FILE PHOTO: Signs are displayed on a Virgin Money store in London

(Reuters) – Virgin Money said on Tuesday it was launching sustainability-linked loans for UK companies of all sizes, a move the firm claimed would make it the first bank in Europe to offer such loans in commercial banking.

The bank will waive arrangement fees for companies whose core activities “proactively help the economy transition to a more sustainable model”, the company said.

Companies will get access to these loans based on a digital tool created in partnership with the non-profit Future-Fit Foundation.

(Reporting by Chris Thomas in Bengaluru; Editing by Shailesh Kuber)

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