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MILAN – Luxury fashion brand Prada has signed a new 90 million (US$109m) sustainability-linked five-year loan with banking group UniCredit, which will incentivise the company to accelerate environmental sustainability by reducing its interest rates in line with progress.

“Sustainability, as a value, is now universally recognised and shared, also by the financial industry,” said Prada’s chief financial officer Alessandra Cozzani. “For us and for all companies, this results in an important stimulus to achieve increasingly ambitious goals toward a sustainable economy.”

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