EBRD lends €15 million to Ukraine's pharmaceutical producer Yuria-Pharm
Summary
The European Bank for Reconstruction and Development (EBRD) is supporting the cross-border growth of Ukraines leading pharmaceutical company Yuria-Pharm. The Bank is lending 15 million to finance the groups investment plans primarily in Ukraine and Uzbekistan which will help to increase its competitiveness at home and strengthen its position in Uzbekistan and Central Asia, guaranteeing its prospects for future growth and expansion.Under its investment plan for Uzbekistan, Yuria-Pharm will use the EBRD financing to expand its production facilities, install solar panels and improve its energy efficiency.In Ukraine, the loan will go towards certifying its production with the European Union (EU) Good Manufacturing Practice standard, installing solar panels as well as carrying out critical IT upgrades. This will offer young people in Ukraine more opportunities for market-relevant training, addressing critical skills gaps ensuing from Russias full-scale invasion.EBRD Managing Director for Industry, Commerce and Agribusiness, Jean-Marc Peterschmitt said: Strengthening Ukraines private sector is one of the key focus areas for the EBRD in wartime, and Yuria-Pharm is exactly the type of client we want to invest in. We are proud to support its growth into other EBRD markets.Yuria-Pharm Group is a leading Ukrainian pharmaceutical manufacturer, selling its products across Ukraine and exporting to more than 40 countries.The EBRD is the largest institutional investor in Ukraine, with cumulative investment of more than 22 billion in over 600 projects. Since the start of Russias full-scale invasion there three years ago, the Bank has deployed more than 6 billion in Ukraines real economy.