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MILAN - Luxury fashion brand Gucci has signed a deal with Italy's biggest bank, Intesa Sanpaolo, to give small and medium-sized companies (SMEs) in its supply chain access to loans at better terms and conditions for environmental and social initiatives.

The agreement, the first of its kind in Italy, is in line with the priorities set by the Italian government’s National Plan for Recovery and Resilience (PNRR) following the coronavirus pandemic.

Loans will be available for sustainability projects including those aimed at energy efficiencies, waste reduction, increasing recycling, and reducing the use of water, hazardous chemicals and single-use plastic packaging.

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