Farmak raises EUR 15 mln loan from EBRD

14:52, 10.07.2019 1 min read

PJSC Farmak pharmaceutical company (Kyiv) has raised a five-year loan from the European Bank for Reconstruction and Development (EBRD) in the amount of EUR 15 million (equivalent of UAH 427.838 million)

An Interfax-Ukraine correspondent has reported that the loan agreement was signed between the bank and the pharmaceutical producer on Tuesday.

Farmak Executive Director Volodymyr Kostiuk said that the company has raised around EUR 72 million from the EBRD since 2006.

"The EBRD is our strategic partner, we will continue working with it," he said.

Kostiuk said that the attracted funds are intended to expand production at the Farmak's facility in Kyiv.

"We want to develop and conquer new markets, but today we do not have enough production capacity, so the expansion of production is very important for us," he said.

The borrowed funds will be sent, in particular, to finance the expansion of production facilities, and the construction of a new laboratory and production complex.