The European Investment Bank (BEI) is awarding a loan worth 7,5 million euros to the Romanian company GreenFiber International SA, through the Juncker Plan, it is shown in an European Commission (EC) press release. The loan will finance a recycling and circular economy project that will create 280 jobs and process over 50.000 tons of waste per year.

The investment plan for Europe – the Juncker Plan – is expected to generate 240,9 billion euros of investments, representing just over three quarters of the 315 billion euros target of total mobilized investments initially allocated, according to Agerpres. Following the BEI Board meeting this month, the operations approved under the European Investment Fund for Europe have a total funding of 47,4 billion euros and are within all EU member states.

Approximately 461.000 SMEs would benefit from the improved access to funding as a result of the Juncker Plan sponsored agreements. The European Commission and the European Investment Bank estimate that until now the European Investment Fund has supported 300.000 jobs in the EU. By 2020 the figure should reach 700.000.

In September, GreenFiber International from Buzau, part of the Green Group, announced that it will invest 35 million euros in the city of Urziceni to build a synthetic fiber manufacturing plant from one hundred percent recycled PET. It is the third company of its kind after the ones from Buzau and Iasi.