Serb Natlfed

Main Menu

  • Home
  • Serbian finance
  • Serbian banks
  • Serbian economy
  • Serbian loans
  • Financial affairs

Serb Natlfed

Header Banner

Serb Natlfed

  • Home
  • Serbian finance
  • Serbian banks
  • Serbian economy
  • Serbian loans
  • Financial affairs
Serbian finance
Home›Serbian finance›EBRD grants € 10 million loan to Serbian Umka

EBRD grants € 10 million loan to Serbian Umka

By Corey Owens
September 24, 2021
0
0

BELGRADE (Serbia), September 24 (SeeNews) – The European Bank for Reconstruction and Development (EBRD) grants a 10 million euro ($ 11.7 million) loan to Serbian recycled cardboard manufacturer Umka as part of of a comprehensive investment program, he said.

The loan will help finance the modernization of cardboard production equipment, allowing the company to increase its production, and will also support Umka in introducing new products with higher added value and improving energy efficiency. of its operations, the EBRD said in a statement Thursday.

“The EBRD is a strong supporter of the circular economy. We want to help Serbian businesses exploit the huge potential of this new market in the Western Balkans. Our cooperation with Umka is an example of our commitment to support the main recycling companies in the modernization of their facilities, consolidating their position as regional players and expanding their access to new export markets ”, said Matteo Colangeli , Regional Director for Western Balkans, Head of Serbia, EBRD.

The EBRD loan is part of a larger € 40 million investment program, which includes a € 25 million loan from the Austrian Development Bank (OeEB), the EBRD noted.

The increased production capacity is expected to lead to an increase in the collection and recycling of waste paper in Serbia and the Western Balkans region, where the company has its own waste paper collection points, the EBRD said.

Umka is part of the KappaStar group, a regional leader in the confectionery and paper recycling industry. The company exports more than 80% of its production to more than 30 countries in Europe.

($ = 0.85112 euros)

Related posts:

  1. Big power wants to withdraw NATO forces from Kosovo – EURACTIV.com
  2. Disney cuts exclusive cinema window in half for ‘Free Guy,’ ‘Shang-Chi’
  3. Ciphr launches a free secure communication application to integrate into existing services
  4. Increased health commitment and commitment needed to clean air in Serbia
Tagswestern balkans

Categories

  • Financial affairs
  • Serbian banks
  • Serbian economy
  • Serbian finance
  • Serbian loans

Resent Posts

  • The New York State Joint Retirement Fund holds a $3.89 million stake in Bank of Hawaii Co. (NYSE: BOH)
  • UK litigation roundup: Here’s what you missed in London
  • European drought dries up rivers and kills fish
  • Frankfurt will replace Kostic with Luca Pellegrini from JuveJuvefc.com
  • Electricity prices in South East Europe reach EUR 500 per MWh for the fourth quarter of 2022

Archives

  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • Privacy Policy
  • Terms and Conditions