Moving towards a circular economy



The European Bank for Reconstruction and Development (EBRD) is stepping up its cooperation with Turkish glass producer Şişecam in a move to help Turkey increase its glass recycling rate and boost its circular economy.

The Bank is acquiring a minority stake in Şişecam Çevre Sistemleri A.Ş., a newly established recycling arm of Şişecam, and is extending a €40 million loan to finance glass recycling equipment and energy efficiency investments.

The Bank has also mobilised an additional €2 million loan from the Clean Technology Fund, a funding window of the Climate Investment Funds, as well as EU grants.

The investment will support Şişecam’s efforts to boost glass recycling in Turkey and contribute to a more competitive, resource-efficient circular economy, which is part of the Bank’s overall strategy to help the countries where it invests tackle global challenges such as climate change.