ING Bank Romania extends €86mn loan for circular economy project

ING Bank Romania granted green financing worth RON426mn (€86mn) to RetuRO Return Guarantee System, for the implementation of the most important circular economy project at the national level, which enjoys the involvement of both the private sector and the Romanian state. The financing package includes an investment loan of RON343mn (€69mn) granted for a period of 5 years and a working capital loan of RON83mn (€16.7m) with a duration of 2 years. The fully private loan obtained by RetuRO will support the operational activity of the Guarantee-Return System, which includes the creation and operation of regional centres, where the counting, sorting and preparation for recycling of returned packaging will be ensured. The Guarantee-Return System is a complete circuit that glass, plastic or metal packaging, with volumes between 0.1 litres and 3 litres inclusive, is to be recovered and reused.