Loan to support efficient pharmaceutical logistics
The EBRD is providing Santefarm, the largest pharmaceutical distributor in Kosovo, with a €1.5 million loan to support the construction of a greenfield logistics centre.
Santefarm is supplying generic and branded drugs, over-the-counter products and medical materials to more than 600 pharmacies throughout the country.
This funding is extended jointly by the EBRD and the Enterprise Expansion Fund (ENEF). The €48.5 million Fund supports small and medium-sized enterprises (SMEs) with high-growth potential in the Western Balkans and works in cooperation with the EBRD.
The Bank is also an investor in the Fund, together with the European Investment Fund (EIF), the European Union (EU), the German Investment and Development Bank (DEG), the Development Bank of Austria (OeEB) and the government of Italy. ENEF is part of a larger SME platform, the Western Balkans Enterprise Development and Innovation Facility (WB EDIF), established jointly by the EBRD, the European Union and the European Investment Bank (EIB) Group.
Fabio Serri, EBRD Regional Head of SME Finance Development, said: “We are very pleased to support Santefarm in the implementation of the company’s expansion plans. We believe that our cooperation will contribute to the growth of the pharmaceutical industry in Kosovo, where significant supply gaps remain. A properly functioning pharmaceutical sector can make a big difference to the quality of people’s lives.”
Milaim Abdullahu, the Managing Director of Santefarm, added: “We are honoured by the cooperation with the EBRD. We are confident that our partnership will boost Santefarm’s development and support the pharmaceutical industry in Kosovo.”
To date, the EBRD has invested more than €225 million in 51 projects in Kosovo. The Bank’s strategic priorities in the country are promoting inclusion, the green economy, economic resilience and regional integration. The majority of the EBRD’s investments are in the private sector.
