EBRD to lend EUR 10 mln for Serbian producer of recycled cardboard
The European Bank for Reconstruction and Development (EBRD) announced it is supporting Umka, manufacturer of recycled cardboard in the Western Balkans region and based in Serbia, with a EUR 10 million loan as part of a comprehensive investment program.
The EBRD loan will help finance the upgrading of equipment for cardboard production, allowing the company to increase its output.
The funding will also support Umka in the introduction of new, higher-value-added products and improvements to the energy efficiency of its operations.
The EBRD loan is part of a larger EUR 40 million investment package, which includes a EUR 25 million loan from the Austrian Development Bank (OeEB). Umka is a part of the KappaStar Group, a regional leader in the confectionery industry and the paper recycling business.
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