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south-east european

INDUSTRIAL MARKET

6

SEE BUSINESS

Kosovanpharmaceutical company gets

EBRD funding to build a greenfield lo-

gistics centre

The European Bank for Reconstruction and De-

velopment (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 supply-

ing 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 fur-

ther 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 enter-

prises (SMEs) with high-growth potential in theWest-

ern 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 Develop-

ment 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 In-

novation 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 con-

tribute to the growth of the pharmaceutical indus-

try in Kosovo, where significant supply gaps re-

main. A properly functioning pharmaceutical sec-

tor can make a big difference to the quality of peo-

ple's lives", Fabio Serri, EBRD Regional Head of

SME Finance Development commented.

"We are honoured by the cooperation with the

SEE Business

EBRD. We are confident that our partnership will

boost Santefarm's development and support the

pharmaceutical industry in Kosovo", Milaim Abdul-

lahu, 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, eco-

nomic resilience and regional integration in the

country, it states on its official website.

A waste-oil recycling project to be im-

plemented in Romania

The Romaian company Green Oil and Lubes SRL

is to receive a loan for the development, construc-

tion and operation of a recycling plant for waste

lubricant oils in the Balkan country, the European

Bank for Reconstruction and Development said on

its website. The project is granted a club loan

amounting to 38,7 million US dollars, provided by

the EBRD and Banca Comerciala Romana (BCR).

The current financing is a part of a bigger invest-

ment program by the company, which aims to re-

ceive a total of 57 million US dollars funding for the

full implementation of the project. The goal of Green

Oil and Lubes is to construct a 73 000-metric-tonne

recycling plant in the southern Romanian city of Ol-

tenita. The facility is planned to recycle waste lubri-

cant oils and transform them into base oils for sale

and reuse in the automotive sector and the industry.

Green Oil and Lubes SRL is part of a group of

companies established by the Indian engineer

and businessman Mazarali Kamumiya Saiyed,

EBRD explains.

The group is going to contribute to the investment

programwith 26 million US dollars from its own cap-

ital. The rest of the funding will be ensured equally

by the EBRD and BCR. The parties signed an

agreement for the building of the facility, which also

guarantees the BCR will grant the Romanian com-

pany another 8,7 million euro for working-capital

needs and other expenses related to the implemen-

tation of the project.

"By supporting a new recycling facility, the invest-

ment addresses a core issue in Romania's transition

to a sustainable and green economy. Resource effi-

ciency and recycling remain areas where there is

significant room for improvement. On average every

liter of lubricant oil generates 0,5 liters of waste lubri-

cant oil. In Romania, only around 50 per cent of this

waste is collected, and it is mainly used as fuel for

producing heat, generating significant quantities of

greenhouse gas emissions", EBRD further informs.

The new company is determined to collect the

majority of recyclable waste oil in Romania and to

develop an attractive and affordable product for lo-

cal clients. The construction of the recycling facility

will also open about 60 new jobs.

"We are pleased and honored to partner with a

strong and dynamic company such as Green Oil

and Lubes in this exciting venture. It is a highly in-

novative greenfield investment in Romania and one

that focuses on the circular economy and the envi-

ronment. The success of this project will demon-

strate how business considerations and green con-

Source: Santefarm