EBRD lends € 10 million to Serbian recycled cardboard producer
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Regional today
Monday, Sep 27, 2021, 3:35 PM
The European Bank for Reconstruction and Development (EBRD) has announced that it is supporting Umka, a manufacturer of recycled cardboard in the Western Balkans region and based in Serbia, with a loan of 10 million euros as part of a global investment program.
The EBRD loan will help finance the modernization of cardboard production equipment, allowing the company to increase production.
The funding will also help Umka to introduce new products with higher added value and improve the energy efficiency of its operations.
The EBRD loan is part of a larger € 40 million investment program, which includes a € 25 million loan from the Austrian Development Bank (OeEB). Umka is part of the KappaStar group, a regional leader in the confectionery and paper recycling industry.
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