Industries & Services
Enterprises in the manufacturing industry, trade or the services sector make a major contribution to employment, education and training, and the creation of added value locally. However, in developing countries, they often have no access to long-term finance. And without capital, it is hard to invest successfully. In discussion with them we develop suitable financing solutions and will be at their side, also in the long term.
Our solutions involve advising our customers on how to frame their investments even more professionally and sustainably. In addition, we offer promotional programmes designed to foster entrepreneurial measures, for example feasibility studies and pilot schemes co-financed by us.
Blue loan financing to preserve the oceans
Every year, large amounts of plastic waste end up in the oceans. To mitigate this environmental burden, in 2020 DEG provided a long-term loan of USD 50 million to the plastic resin manufacturer and recycler Indorama Ventures Public Company Ltd., a long-time customer of DEG. The funding is part of a blue loan financing package from the International Finance Corporation (IFC) and the Asian Development Bank (ADB) totalling USD 300 million.
The financing enables the internationally active company to expand its recycling capacity in Thailand, the Philippines, India, Indonesia and Brazil. This new capacity will recycle around 5 billion additional PET bottles per year from 2022, diverting plastic waste from the oceans, back into the circular economy. A feature of blue loan financing is that the funds raised are used to support the sustainable use of marine resources.
”We are delighted to receive this blue loan and to continue our relationship with DEG. By financing and building the recycling infrastructure to recycle post-consumer PET bottles into new bottles, we are reducing waste and preserving our oceans.“
Yashovardhan Lohia
Chief Sustainability Officer of Indorama Ventures
