ING Bank Romania extends EUR 86 mln loan for circular economy project
ING Bank Romania granted green financing worth RON 426 mln (EUR 86 mln) to RetuRO Return Guarantee System for the implementation of the most important circular economy project at the national level, which enjoys the involvement of both the…
iulian ernst · Journalist
· Updated · 1 min read
ING Bank Romania granted green financing worth RON 426 mln (EUR 86 mln) to RetuRO Return Guarantee System for the implementation of the most important circular economy project at the national level, which enjoys the involvement of both the private sector and the Romanian state.
The financing package includes an investment loan of RON 343 mln (EUR 69 mln) granted for a period of 5 years and a working capital loan of RON 83 mln (EUR 16.7 mln) for 2 years.
The fully private loan obtained by RetuRO will support the operational activity of the Guarantee-Return System, which includes the creation and operation of regional centres, where the counting, sorting and preparation for recycling of returned packaging will be ensured.
The Guarantee-Return System is a complete circuit in which glass, plastic or metal packaging, with volumes between 0.1 and 3 litres inclusive, is to be recovered and reused.
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