BAKU, Azerbaijan, March 31. The European Bank for Reconstruction and Development (EBRD) has allocated 10 million euros for the leading Ukrainian pharma company, YURiA-PHARM to acquire Reka-Med, a pharmaceutical company in Uzbekistan, Trend reports, citing the EBRD.
YURiA-PHARM LLC, the manufacturer of prescription medicines and medical devices, in May 2019 signed the loan agreement with the EBRD. Ukrainian company borrowed 25 million euros in two tranches: a committed first 15 million euros for improvements in packaging lines and the introduction of affordable customized doses of cancer treatment, while 10 million euros second tranche was repurposed to acquire Reka-Med.
The project aims to assist YURiA-PHARM in the production of pharmaceuticals for the Uzbek market and free up about 10 percent of its production capacity inside Ukraine.
The EBRD says that YURiA-PHARM exports 30 percent of its production, 15 percent of which is exported to Uzbekistan.
Furthermore, EBRD’s Annual Meeting & Business Forum will be held on May 16-18 in Uzbekistan’s Samarkand. The bank says that “Investing in Resilience” is – the focus topic of the Annual Meeting & Business Forum, which is aimed at ensuring economic stability in times of crisis and promoting sustainable economic growth.
The main purpose of this meeting is to discuss practical strategies for establishing a more resilient global economy, as well as to provide the EBRD with a chance to review its accomplishments over the past year and set out plans for the future.