World Bank to aid drinks recycling in Brazil

World Bank to aid drinks recycling in Brazil

The International Finance Corporation (IFC) of the World Bank plans to help fund a US$23m bottle-to-bottle plastic recycling facility in São Paulo, Brazil.

The IFC intends to provide US$13m equity financing for the project, which would be undertaken by Unnafabris Textil.

The firm recycles more than one billion bottles annually, but the quality of the resin is not good enough for resale to soft drinks bottlers, said the IFC.

The company produces 3,600 tons of PET flakes and 3,000 tons of PET-based fibres each month from its factories, an IFC official told just-drinks yesterday (21 July). He refused to reveal the new plant’s exact capacity.

ABIPET, the Brazilian PET industry association, says 55% of all used PET bottles in the country are currently recycled.