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Europe bank aids Albania's waste paper recycling efforts
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26 November 2008
TIRANA (Reuters) - The European Bank for Reconstruction and Development will invest in Albania's only paper firm to help it produce recycled paper and set up waste paper recycling networks, the EBRD said on Wednesday.
Dan Berg, the EBRD's Albania head, said the investment would create a precedent with environmentally friendly production backed by an organized collection and recycling network.
'Not only is this investment good for business, but we hope it will help change attitudes toward recycling in Albania,' Berg said. 'The investment...should stimulate other companies to look for opportunities to recycle waste into profits.'
The EBRD will make an equity investment of two million euros ($2.59 million) in Edipack Sh.a. to support its plans to install a recycled paper production line and establish waste paper recycling networks throughout Albania, Europe's second poorest state.
Edipack, based in the port town of Durres, will use the funds to diversify and expand its products range and services, including the packaging and shipment of agricultural produce.
The company will install waste-paper bins in much-frequented areas, such as shopping malls, warehouses of importers, especially of vegetables and fruits, ministries, municipalities, universities and printing houses.
(Reporting by Benet Koleka; Editing by Adam Tanner)
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