The largest pharmaceutical company in Ukraine received €12M from Ukrainian and Latvian banks to construct a plant in Spain.

Thanks to the West Bridge program, Ukrainian businesses continue to develop in EU countries. Another of the program’s significant projects is financing a new pharmaceutical plant for the largest Ukrainian drug manufacturer, Farmak, in Spain. This joint effort by the Pivdenny Bank and the Latvian bank Regionala Investiciju Banka has provided the Farmak group with a €12M loan.

With this, Farmak continues implementing its corporate development strategy, Farmak 2.0: from local to global success. The company’s new Spanish project is a full supply chain, closed-loop manufacturing and quality control facility. The launch of the new plant, aimed at the European market, will directly affect the export capacity of the group’s Ukrainian production.

Since 2022, the Pivdenny Bank’s West Bridge program has helped more than 40 Ukrainian businesses attract funds for their projects. In the first year of the program’s operation total funding exceeded €20M.