Teriak to receive a US$1.63M loan from Attijari bank Tunisia to boost local pharmaceutical production

TUNISIA – Tunisian Laboratoires Teriak S.A, a leading manufacturer of pharmaceutical products, is set to receive a TND 5 million (US$1.63M) loan from Attijari bank Tunisia to promote local pharmaceutical production in the country.

The investment will also support Tunisia’s competitiveness by opening markets and bolstering governance, promoting economic inclusion for women, young people and those living in remote areas.

Founded in 1996, Laboratoires Teriak S.A manufactures medicines under license for leading multinational corporations and has developed a range of quality generic products focusing on therapeutic areas such as cardiology, neuropsychiatry, gastroenterology and oncology.

It is a major player in the pharmaceutical industry which is a growing sector for many economies worldwide and one of the fastest-growing industries in Tunisia.

Attijari bank Tunisia has partnered with the European Bank for Reconstruction and Development (EBRD) to facilitate access to finance for Teriak to acquire new machinery and equipment and to undertake maintenance work at its Jebel Ouest facility.

The financing is through an EBRD risk-sharing framework established in 2020 with Attijari bank Tunisia which will help Tunisian Laboratoires Teriak enhance productivity and increase energy efficiency.

Subsequently, Teriak will increase its energy and resource efficiency by renovating its wastewater treatment unit and steam boiler along with installing an automated energy management system at Jebel Ouest.

The collaboration also reaffirms the EBRD and Attijari bank Tunisia’s commitment to supporting Tunisian companies as well as the importance of companies to Attijari bank Tunisia’s development strategy.

In addition, it is in line with EBRD’s business priority to support small business and its work to strengthen the Tunisian economy.

Teriak will benefit from the EBRD’s Skills in Business Programme to help increase its human resource capacity to better attract, train and retain a skilled labor with support from the Swiss State Secretariat for Economic Affairs and Small Business Impact Fund.

Moreover, the European Bank for Reconstruction and Development has invested more than €1.4 billion (US$1.48B) in 57 projects across the country and supported more than 1,600 SMEs through European Union-funded technical assistance since it started operating in Tunisia in 2012.

The Bank offers finance to support programmes for small and medium-sized enterprises, develop partnerships between the public and private sectors, strengthen the production of renewable energy and lay the foundations for a green economy.

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