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EBRD provided €3 million loan to Ukrainian wood processing company Zunami

€3 million loan and EU and GEF grant to contribute to sustainable forest management

The EBRD is contributing to sustainable forest management in Ukraine by supporting a major domestic wood processing company Zunami with the introduction of new waste management techniques aimed at reducing wood waste by 23 per cent or 3000 tonnes per year.

According to Global Forest Watch, more than seven per cent of forests in Ukraine were destroyed by massive deforestation over the last 15 years.

The Bank is providing a financial package of up to €3 million to finance the investment. This will be complemented by grant funding of up to €70,000 from the European Union under its EU4Business programme, and US$170,280 incentive grant, funded by the Global Environment Facility under FINTECC programme, designed to transfer technology in the area of climate change mitigation and adaptation.

Zunami is Ukraine’s leading producer of finished wooden floors. The company plans to expand its existing business, the production of oak lamellas, and use new, resource-efficient technologies. Zunami will also launch multilayer wooden floor boards as a new product.

The new sustainable waste management practices at Zunami will help decrease the volume of oak logs required for the production of lamellas by 23 per cent.

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