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In August 2020, OeEB signed a bilateral credit line of EUR 25 million with UMKA d. o. o. ("UMKA"), the largest manufacturer and supplier of folding cardboard in Serbia and the SEE region. The funds will be used to expand the production capacities and wastewater treatment and will thereby contribute to greater energy efficiency. In August 2022, a second loan was signed in the amount of EUR 15 million.
| Project name | UMKA Production Expansion, Wastewater Treatment and Energy Efficiency |
| Region | Southeast Europe |
| Sector | Industry |
| Service | Investment Finance |
| Project country | Serbia |
| Project volume | EUR 40 million |
| International climate finance according to UNFCCC | Partially |
| Additionality | Financial Additionality |
| Project partner(s) | UMKA d.o.o. ("UMKA") Serbia |
With this credit line, OeEB supports UMKA in the implementation of energy efficiency measures. The purchase of modern production facilities, the conversion of individual production units and the use of more environmentally friendly technologies will reduce greenhouse gas emissions and energy consumption and thereby contribute to environmental protection.
Through this long-term investment, OeEB also supports the company in creating and maintaining jobs, promoting exports, and generating income and government revenues. This does not only contribute to climate protection, but also increases the employment rate in Serbia and enables non-consumer-based growth.