Poland’s Polpharma gets a major financial loan from the European Bank for Reconstruction and Development

POLAND – The European Bank for Reconstruction and Development (EBRD) is providing Polish largest pharmaceuticals producer Polpharma with a PLN 200 million (EUR 45 million) 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” modernization programme aimed at minimizing 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 Environmental Social & Governance (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.

The pharmaceutical entity will be one of the first non-listed entity in Poland to include Task Force on Climate-related Financial Disclosures (TCFD) recommendations as well as “ESG reporting guidelines” jointly developed by EBRD & Warsaw Stock Exchange for publicly listed entities.

It is among the top generic drug manufacturers in Central and Eastern Europe (CEE) and offering modern drugs, substances and innovative solutions.

Polpharma has been actively combating the pandemic in Poland through its manufacturing sites and research and Development centers spread across Poland and Kazakhstan.

The company has commercialized in Poland the first generation of polymerase chain reaction (PCR) tests developed by the Polish Academy of Sciences.

PCR tests have been vital during the pandemic as they have been used to test for corona virus among the Polish population and the larger part of Europe with notable nations like Spain and the United Kingdom using it.

Europe has been considered the most efficient continent in matters dealing with the pandemic especially when it came to testing its population forCOVID-19.

Data from the European Centre for Disease Prevention and Control (ECDC)shows that Europe has recorded a total of 54 315 390 cases with these five countries reporting most cases: France (5 757 311), Turkey (5 370 299), Russia (5 316 826), United Kingdom (4 630 040) and Italy (4 252 976).

ECDC also has reported a total of 1 158 534 deaths with Russia reporting (129 800), United Kingdom (127 976), Italy (127 270), France (110 767) and Germany (90 395).