" Pivdenny West Bridge"" helps Ukrainian company Farmak to open a plant in Spain

Ukrainian business continues to develop in Europe thanks to the "Pivdenny West Bridge" programme. Another landmark project of the programme was the financing of a new pharmaceutical plant of the Ukrainian company Farmak in Spain.

Thanks to a joint programme between "Pivdenny" Bank and Latvian bank Regionala Investiciju Banka (RIB), Farmak Group received EUR 12 million.

Farmak Group, as a leader in the Ukrainian pharmaceutical industry, continues to implement its corporate development strategy "Farmak 2.0: from local to global success". Production in Spain is a complete supply chain enterprise with a closed production cycle and quality control. The plant will produce sterile medicines in the form of solutions, suspensions in vials and syringes. The launch of the new plant, which is focused on the European market, will have a direct impact on the Group's Ukrainian export capacity.

"It is difficult for a Ukrainian business to open a new production facility in Europe, and it is many times more difficult to launch a pharmaceutical plant from scratch. "Pivdenny", together with RIB Bank, has exceptional expertise in financing foreign projects of Ukrainian companies and is always ready to offer individual solutions. More than 40 Ukrainian business groups have become clients of the "Pivdenny West Bridge" programme since its launch, and we are pleased to have been able to support Farmak company, the No. 1 pharmaceutical manufacturer in Ukraine, and provide it with part of the funding it needs to implement its development strategy. I would also like to thank the Farmak team for their high professionalism and focus on results during our joint work on the project," commented Yurii Voievoda, Director of "Pivdenny" Bank's Investment Banking Department.

As a reminder, in 2022 "Pivdenny" Bank, the third largest bank by assets with Ukrainian private capital, together with Latvian bank RIB, created the "Pivdenny West Bridge" programme to help Ukrainian businesses obtain financing for their development in Europe. In the first year of operation of the programme alone, the total amount of funding exceeded EUR 20 million.