The European Bank for Reconstruction and Development announced plans yesterday to invest in a new recycling project in Albania – the second poorest state in Europe.
The EBRD revealed that it will make an equity investment of two million euros (2.59 million US Dollars) in Albania’s only paper company Edipack Sh.a, based in the port town of Durres, to encourage the production of recycled paper and create a network of waste paper recycling points nationwide.
Commenting on the proposed environmentally friendly model, the head of EBRD Dan Berg said, ‘Not only is this investment good for business, but we hope it will help change attitudes toward recycling in Albania. The investment…should stimulate other companies to look for opportunities to recycle waste into profits’.
Edipack Sh.a intends to use this funding to expand their range of products and services, including the packaging and shipment of agricultural produce.
Waste-paper collection points will be installed in busy public areas, like shopping centers and universities, and in workplaces such as imported fruit and vegetable warehouses and printing firms.