EBRD supports Poland's Arctic Paper with €30 million loan

The European Bank for Reconstruction and Development has granted a €30 million loan to paper producer Arcitc Paper to finance investments for improvements in the company's operational and energy efficiency as well as to expand future production capacity in Poland. The EBRD loan will be part of a €90 million financing package involving commercial banks and bond investors. With the planned investments Arctic Paper is seeking to significantly increase its competitiveness, expand its capacity and improve its energy and resource efficiency. The company's mill at Kostrzyn, Poland, will be upgraded with investments under the EBRD's Green Economy Transition (GET) approach to improve energy and waste efficiency. Arctic Paper Group is a leading European producer of paper for books and offers a broad range of products. Currently, the firm operates one paper mill in Poland and two in Sweden with a combined annual production capacity of 705,000 tonnes.