Kosovan pharmaceutical company gets EBRD funding to build a greenfield logistics centre
The European Bank for Reconstruction and Development (EBRD) said it was providing the largest pharmaceutical distributor in Kosovo Santefarm a loan to support the company in the construction of a greenfield logistics centre. Santefarm is supplying generic and branded drugs, over-the-counter products and medical materials to more than 600 pharmacies in Kosovo. The loan granted to the company amounts to 1,5 million euro, EBRD further announced.
The funding is extended jointly by the EBRD and the Enterprise Expansion Fund (ENEF). The Fund is aimed at supporting small and medium-sized enterprises (SMEs) with high-growth potential in the Western Balkans and works in cooperation with the Bank. EBRD is also an investor in the Fund, together with the European Investment Fund (EIF), the European Union (EU), the German Investment and Development Bank (DEG), the Development Bank of Austria (OeEB) and the government of Italy.
ENEF is also a part of a larger SME platform - the Western Balkans Enterprise Development and Innovation Facility (WB EDIF), EBRD points out. The platform was established jointly by the EBRD, the European Union and the European Investment Bank (EIB) Group.
"We are very pleased to support Santefarm in the implementation of the company’s expansion plans. We believe that our cooperation will contribute to the growth of the pharmaceutical industry in Kosovo, where significant supply gaps remain. A properly functioning pharmaceutical sector can make a big difference to the quality of people’s lives"", Fabio Serri, EBRD Regional Head of SME Finance Development commented.
"We are honoured by the cooperation with the EBRD. We are confident that our partnership will boost Santefarm’s development and support the pharmaceutical industry in Kosovo"", Milaim Abdullahu, Managing Director of Santefarm, said.
EBRD had invested more than 225 million euro in Kosovo - in a total of 51 different business projects which are mainly in the private sector. The Bank aims to promote inclusion, green economy, economic resilience and regional integration in the country, it states on its official website.
LATEST issue 1/2019