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EBRD invests EUR 40 million in a company of Sisecam European Bank for Reconstruction and Development will fund recycling business of the Turkish producer of glass Sisecam, which is owner of the factories in Turgovishte. The financial institution will allocate EUR 40 million loan for which it will take 10% of the subsidiary Sisecam Cevre Sistemleri A. funds will be used for purchase of equipment for recycling of glass and for measures for energy efficiency. In addition to the investment the bank mobilized another EUR 2 million loan from the Clean Technology Fund and European grants. With the funds Sisecam will provide equipment for suppliers of glass waste (i.e. Cullet) and will increase their ability to collect and process. With projects implemented so far by the Bank's support level of recycling has increased from 8 to 19%. In 2012, the EBRD has allocated EUR 40 million long-term loan for modernization and capacity expansion of the subsidiary Trakia Glass Bulgaria.

 

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