|PURPOSE/ RATIONALE||· Protects Environment: The foremost benefit or recycling is that it helps in protecting the environment in the most balanced manner. For example, while many trees are cut down continually, recycled paper made from certain trees is re-used repeatedly to minimize felling/deforestation. With re-cycled paper as an outstanding example, a number of other natural resources can be reused this way.
· Reduces Energy Consumption: A large amount of energy is consumed by processing raw materials at the time of manufacture. Recycling helps to minimize energy consumption, which is crucial for massive production, such mining or refining. This also makes the production process very cost-effective and beneficial for manufacturers.
· Reduces Pollution: Industrial waste today is the main source of all types of pollution. Recycling of industrial products such as cans, chemical, plastics helps to cut down pollution levels considerably, as these materials are re-used, instead of throwing them away irresponsibly.
· Reduces Global Warming: Recycling helps to alleviate global warming and its ill effects. Massive waste is burned in heaps which produces large amount of greenhouse gas emissions such as carbon dioxide (CO2) and chlorofluorocarbons (CFCs). Recycling ensures that the burning process is minimized and any waste is re-generated as a useful product with no or minimal harmful impact on the environment. Recycling produces less greenhouse gases as industries burn fewer fossil fuels for eco-friendly products.
· Judicious and Sustainable use of Resources: Recycling promotes judicial and sustainable use of resources. This process prevents indiscriminate use of any material when available in abundance.
· Conserves Natural Resources: If old and used materials are not recycled, the new products are made from extracting fresh raw materials from beneath the earth through mining and extraction. Recycling helps in conserving important raw materials and protects natural habitats for the future. Conserving natural resources such as wood, water and minerals ensures their optimum use.
· Reduces Amount of Waste to Landfills: Recycling old and waste products into new products reduces the amount of waste that go to landfills. This helps in reducing water and land pollution as landfills are a major source in contributing to destruction of natural environment.
· Create Green Jobs: Recycling is good for the environment and also promotes the creation of green jobs.
· Reduction in the importation of raw materials for those industries that are import dependent for their raw materials.
| i. Small and Medium Enterprises (SMEs) that are interested in establishing recycling plants
ii. Companies involved in the processing of waste plastic and metal scraps that produce recycled plastic and metal products as raw materials to companies engaged in plastic and metal manufacturing.
iii. Manufacturers of plastic and metal products that want to optimise raw material usage and reduce raw material cost by recycling of re-usable waste products.
|PROJECTED IMPACT||Each of the following categories is expected to generate between 36 – 100 jobs:
|SINGLE OBLIGOR LIMIT||
|Interest Rate: 9 % per annum.
Fees: 1% Processing Fee for loan less than N50 million.
§ 1% each for Appraisal and Commitment Fees for loan above
|MORATORIUM||6 – 12 months from date of Loan Disbursement.|
|Loan up to N50 million: 90% maximum from BOI (including working capital from BOI or the SME-friendly banks).
Contribution by the promoter – 10% (minimum)
Loan above N50 million: 80% maximum (including working capital from BOI or the SME-friendly banks).
Contribution by the promoter – 20% (minimum)
· In phases in accordance with agreed milestones and shall be backed by provision of performance bond by the accredited equipment suppliers (where the suppliers demand for advance payment before delivery of the equipment).
· Establishment of Letters of Credit where the plant and machinery are to be imported.
- About BOI
- Matching Fund
- Managed Fund
- BOI Products
- Adire Kampala And Aso Oke
- Bottom of pyramid
- Block Moulding
- Cottage Agro Processing Fund
- Cosmetics and Beauty Care Products
- Fashion Fund
- Furniture Product Programme
- Fish Farming & Pprocessing
- Graduate Entrepreneurship Fund
- Theme Park
- Leather Footwear
- Waste Recycling
- Quick Service Restaurant
- Customer Care
- Media Room
- Contact Us
- Quick Links
- BOI Resource Links
- 2014 Annual Report
- 2015 Annual Report
- Access to Finance Test (A-Z)
- SME Consultants
- Hall Of Fame
- Hall of Shame
- MSME’s Definition
- Online Store
- SME Customer Portal
- Policy Statement on Fraud and Corruption
- Graduate Entrepreneurship Fund Enrollment Form
- Environmental And Social Risk Policy Compliance
- Project Disclosure
- YOUTH ENTREPRENEURSHIP SUPPORT PROGRAMME (YES-PROGRAMME)
- External Resource Links
- BOI Resource Links