The European Bank for Reconstruction and Development (EBRD) is supporting, with a $15m loan, ZAO Holding Company Pinskdrev, Belarus’s largest wood processing and furniture group.
The funding will support modernisation of company’s production lines, improvements of environmental impact and energy efficiency. The loan is even aimed to help the group cut unit production costs.
Pinskdrev, which is engaged in the whole process chain from wood harvesting and saw milling to furniture production, is located in the Southern city of Pinsk. It is the largest employer in the region with 6,000 people.
According to a Bank statement, the company is already recycling wood waste created by its manufacturing processes to produce steam and heat in-house.