IFC helps Turkish Co to recover waste water
IFC, a member of the World Bank Group, is providing an $ 8 million loan to help Modern Karton, a leading Turkish paper company, build a waste water recovery system that will reduce business risk and increase resource efficiency.
IFC’s loan, made through its Cleaner Production Lending Facility (CPLF), will enable the company to conserve and reuse thousands of gallons of water each year and, as a result, invest in a new paper machine without the use of a deep drill to gain access to water. Modern Karton operates in a water stressed area, where limited groundwater availability is being exacerbated by climate change. Today the company must drill as far as 130 meters deep to access water, compared to 30 meters in the past.
Water is a key input for the paper industry, said Ahmet Eren, Chairman of Eren Group, the parent company of Modern Karton.
Guy Ellena, IFC Director for Manufacturing and Services in Europe, the Middle East and North Africa said this project will help Modern Karton make a strategic investment to improve its resource efficiency and support the competitiveness of the company.