EBRD bolsters Uzbekistan’s pharmaceutical sector with 20-million-euro loan

The Bank is providing a loan of up to €20 million to SEEM and its sister-company, Bayan Medical, which are involved in manufacturing intravenous fluids (such as sodium chloride, glucose and amino acids), as well as generic and specialised medicines in tablet and capsule form.

The funds will finance the procurement of new production lines (such as in-glass intravenous solutions and antibiotics, syrups and suspensions, medical water, nasal sprays, candles and ointments) for SEEM as well as energy-efficient upgrades of Bayan Medical’s manufacturing facilities. The EBRD’s loan will allow Bayan Medical to acquire a production line for blow-fill-seal (BFS) ampoules and other specialised equipment. Both companies will also be able to restructure their balance sheets.

The project will help to increase the share of domestic pharmaceutical production at a time when 75 per cent of the country’s medical goods are imported. It will promote further localisation and modernisation of the sector.

As part of the project, Bayan Medical will introduce an internship programme for university graduates, specialist training for its employees and will create employment opportunities for people with disabilities.

The Bank has invested almost US$6.9 billion (€5.8 billion) in Uzbekistan to date across 205 projects, with most of the funds supporting private entrepreneurship. The country has been the leading recipient of EBRD funding in Central Asia for each of the past six years.

Previously, it was reported the EBRD promotes domestic production of pharmaceuticals in Uzbekistan.