EBRD helps Ukrainian pharma producer expand presence in Polish market
The European Bank for Reconstruction and Development (EBRD) announced on 10 April that it would support Ukrainian pharmaceutical manufacturer Farmak in expanding its operations in Poland.
The Bank has lent €22 million to support Farmak Group’s strategic acquisition of a Polish pharmaceutical company, and to finance the upgrade of Farmak’s information technology (IT) systems.
“Farmak is an impressive example of a dynamic Ukrainian company that, despite the very challenging war environment, has managed to preserve its operations and is now thinking strategically about its future direction,” said Frederic Lucenet, EBRD Global Head of Manufacturing and Services.
In addition to contributing to Farmak’s expansion and business growth, the EBRD’s investment also supports the livelihoods of the company’s employees in Ukraine.
As part of its engagement, the bank is working with Farmak to implement a structured reintegration programme for its veteran workers and broaden access to training for women entering hard-to-fill vacancies traditionally dominated by men.
According to the EBRD, with more than 2,800 employees in Ukraine, Farmak is facing a number of challenges related to the war, including issues with recruiting new production personnel and training new hires in line with good-manufacturing-practice standards, as well as a lack of employees and top-managers needed to help grow its international footprint.
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