Agri-lender HeavyFinance reaches €50m milestone
European agricultural lender HeavyFinance has passed its €50m (£42.76m) milestone, just four years after its launch.
More than €50m has now been distributed across almost 1,700 different agricultural projects, funded by more than 10,000 registered investors from countries such as France, Germany, and Spain.
The loans have been delivered to farmers in European countries including Bulgaria, Latvia, Lithuania, Poland, and Portugal.
“This milestone is not just a number; it represents a significant leap towards sustainable agriculture and climate action,” said Laimonas Noreika, chief executive and co-founder of HeavyFinance.
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“When we started in 2020, there was scepticism about the influence of financial innovations to impact the adoption of sustainable practices in agriculture.
“Now, with this milestone and our imminent launch of nature-based carbon credits, HeavyFinance is demonstrating what can be achieved. We’re not just financing farms; we’re investing in a sustainable future for our planet.”
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HeavyFinance will begin generating its first nature-based carbon credits in the first half of 2024.
Last year, it launched green loans which provide European farmers with the financing required for them to transition to regenerative practices at a zero per cent interest rate. These farmers can also earn additional revenue from the sale of carbon credits generated from implementing those practices.
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