Funds for expansion The European Bank for Reconstruction and Development (EBRD) has allocated a €10.8 million loan to Serbian company Stax Technologies, a producer of paper tissue packaging machines.
“The company will use the funds to expand its production facilities, purchase new equipment and implement energy efficiency improvements, such as installation of solar panels. This will allow it to increase its production capacity in Serbia by over 70 per cent, while improving energy efficiency and productivity,” the bank said in a statement.
Matteo Colangeli, the regional director of the EBRD for the Western Balkans, said the bank is “very pleased to support Stax Technologies in expanding and upgrading its operations, investing in the green transition and in raising skills and standards, which in turn will contribute to greater competitiveness and access to global markets.”