- Polish pharmaceutical producer Polpharma to benefit from PLN 200 million EBRD loan
- Financing to boost in-house R&D and support product range expansion
- Polpharma to launch “Go green” investment programme and strengthen the sustainable growth and ESG reporting
The European Bank for Reconstruction and Development (EBRD) is providing Polish largest pharmaceuticals producer Polpharma with a PLN 200 million (EUR 45 million equivalent) loan for general and corporate purposes including in-house R&D activities, green investments and ESG strategy.
Investment in new technologies will unlock the development of new substances and products in currently unavailable niches. The EBRD loan will also be used for the implementation of a “Go green” modernisation programme aimed at minimising the environmental and climate impact of the company’s operations. Generating more energy from renewable sources, energy efficiency improvements and usage of innovative technology will allow Polpharma to reduce CO2 emissions by 16,500 tons annually.
As a part of the ESG strategy, Polpharma will also implement a number of gender focused activities, including first formal Diversity and Inclusion Policy, as well as disseminating its best practices around gender inclusion within the broader community and opening up discussions around women’s economic empowerment in Poland. Polpharma will be one of the first non-listed entity in Poland to include TCFD recommendations as well as “ESG reporting guidelines” jointly developed by EBRD & Warsaw Stock Exchange for publicly listed entities.
Polpharma is among the top generic drug manufacturers in CEE and offering modern drugs, substances and innovative solutions. The Company operates manufacturing sites and R&D centres in Poland and Kazakhstan. Polpharma has also played an important role in combating the pandemic in Poland. The company has commercialised in Poland the first generation of PCR tests developed by the Polish Academy of Sciences.
Since the start of its operations in 1991, the EBRD has invested nearly €11 billion through 458 projects in all sectors of the economy in Poland. Supporting the country’s private sector and green transition with investments in renewable energy and energy efficiency remains one of the Bank’s key priorities in the country.