€150m.. EIB lends to a French pharmaceutical company

The European Investment Bank "EIB" has approved a €150m loan agreement for a pharmaceutical company to set up a biopharmaceutical production plant in Toulouse, France.

The EIB loan specifically supports research and development, through a unique, innovative and flexible financing structure

The loan, with a total size of €150 million, will be disbursed in tranches over three years.

A loan of €75m 

The European Investment Bank provided a loan of 75 million euros to the same company in 2017.

"We welcome the support of cosmetics companies' investments in research, development and innovation through the second financing agreement signed with the European Investment Bank," said Ambroise Fayol, Vice-President of the European Investment Bank.

He added that this agreement is evidence of our desire to support European biotechnology companies, so that they take the lead in a sector characterized by very strong global competition.

Job opportunities

He pointed out that this investment is expected to have a significant impact on economic activity in Toulouse, as it will contribute to financing a factory that will be built on an area of 12,000 square meters and will provide more than 200 job opportunities.

For his part, Eno Spillner, Chief Financial Officer of Evoteq, said, "The European Investment Bank plays an important role in promoting innovation in the European Union

He added, "Through our partnership with the Bank, we look forward to opening new horizons for partnership in the field of research and development, and establishing the first plant for the production of biopharmaceuticals in Europe, thanks to the innovative financing model of the European Investment Bank."

It should be noted that biopharmaceutical preparations are manufactured wholly or almost entirely from biological sources.