EBRD to provide ˆ10 million loan to Kyiv Cardboard and Paper Mill
13.07.2018 14:13 "Agro Perspectiva" (Kyiv) —
Ukraine’s leading paper and packaging producer to comply with EU industry standards, cut CO2 emissions
Seven-year loan of ˆ10 million for Ukraine’s leading manufacturer of cardboard, corrugated packaging and tissue products
Project to comply with EU Directive on best available techniques for the production of pulp, paper and board
Annual reductions in CO2 to reach 11,000 tonnes
The EBRD will provide a loan of ˆ10 million to Kyiv Cardboard and Paper Mill (KCPM), a leading company in the sector and based outside Ukraine’s capital.
The purchase of a shoe press for cardboard drying will help KCPM reduce the use of steam, increase production volumes and improve the quality of coated cardboard. The replacement of pumps will halve the electricity needs of this equipment. Combined annual savings are expected to reach up to ˆ2 million.
New converting and packing lines for the production of tissues will be procured as part of the project and will allow the company to widen its range of products for use in office buildings, hotels, schools and airports. It will also help KCPM increase its domestic and export sales, including those to the EU.
KCPM will upgrade its waste-paper processing equipment, which will allow the firm to improve the quality and reduce the cost of cardboard production. These improvements will make it possible to reprocess waste paper up to four times. This will be the first production cycle in the country to implement the EU principles of using fewer resources and increasing energy efficiency.
The investments are expected to reduce the company’s annual CO2e emissions by up to 11,000 tonnes.
The EBRD is the largest international financial investor in Ukraine. Since the start of its operations in the country in 1993, the Bank has made a cumulative commitment of almost ˆ12.1 billion across some 400 projects in Ukraine.
The EBRD is a multilateral bank that promotes the development of the private sector and entrepreneurial initiative in 38 economies across three continents. The Bank is owned by 66 countries as well as the EU and the EIB. EBRD investments are aimed at making the economies in its regions competitive, inclusive, well-governed, green, resilient and integrated. Follow us on the web, Facebook, LinkedIn, Instagram, Twitter and YouTube.
*The Eastern Europe Energy Efficiency and Environment Partnership (E5P) is a ˆ180 million multi-donor fund managed by the EBRD and designed to promote energy efficiency investments in Ukraine and other eastern European countries. The fund was established under an initiative of the Swedish government during its presidency of the European Union (EU) in 2009. E5P complements energy efficiency loans provided by financial institutions including the EBRD, the European Investment Bank, KfW, the Nordic Environment Finance Corporation and the World Bank Group. Contributors to E5P are the EU and the USA, as well as Denmark, Estonia, Finland, Germany, Iceland, Ireland, Latvia, Lithuania, Norway, Poland, the Slovak Republic, Sweden, Switzerland and Ukraine.