The new facility will assist Clarion in delivering on its mission to provide homes to those who need them most.

ABN AMRO and Clarion will seek to agree a set of sustainability key performance indicators (KPIs) for the facility in the coming months.

These KPIs will be closely linked to Clarion’s sustainability strategy and its climate transition plan.

Where Clarion achieves the KPIs, it will make a saving on the facility which it will use to directly support the work of its charitable foundation, Clarion Futures.

•   The Finance Professional Show 2023: The Video
•   Salboy and DOMIS launch £84.5m GDV, Manchester development
•   Beech Holdings secures planning permission for £55m GDV Sheffield scheme

Andrew Hill, Clarion’s director of treasury and corporate finance, said: “We have been really impressed with ABN AMRO’s clear commitment to the social housing sector in the UK in recent years, and we are delighted that ABN AMRO has joined our relationship banking group.

“Clarion places great value on these partnerships beyond just the finance they provide, and we look forward to delivering the wider societal and environmental benefits its commitment will allow.”

Rutilio Merien, ABN AMRO’s head of UK coverage real estate, said: “We are delighted to support Clarion with this new credit facility and the endeavour to include both sustainability and social linked KPIs.

“The UK social housing sector faces challenges that go to the heart of society in terms of availability, quality and safety as well as reducing carbon footprint.

“ABN AMRO is proud to be able to play an active role in supporting Clarion and the sector.”