Fincantieri has announced an 800-million-euro financing package for five years with a three-year grace period, 70 percent guaranteed by the SACE, an insurance-financial group controlled by the Italian Ministry of Economy and Finance.

The financing is meant to address the funding needs for organic growth and the development of its backlog, according to a prepared statement.

The financing is sustainability linked to the reduction of greenhouse gas emissions, the development of energy efficient cruise ships in Italy, and gender representation by promoting women to senior positions.

The pool of lending banks is composed of BNP Paribas CIB Italia, Santander, CaixaBank, Itesa Sanpaolo, Banco BPM, BPER Banca, Deutsche Bank, Banca Monte dei Paschi di Siena, and BNL BNP Paribas.