EBRD Lends Attijari Bank Tunisia $1.6 million to Support Pharmaceutical Firm

The European Bank for Reconstruction and Development (EBRD) extends Attijari bank Tunisia a $1.6 million loan to enable pharmaceutical company Teriak enhance productivity and improve energy efficiency.

The risk-sharing facility will help Teriak purchase new machinery & equipment and to undertake maintenance work at its Jebel Ouest facility.

The funding will complement investment by the manufacturer, leading to a modernization of production processes and enhanced productivity thanks to the renovation of wastewater treatment unit and steam boiler, and installation of an automated energy management system at Jebel Ouest.

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.

Since 2012, the EBRD has invested more than €1.4 billion in 57 projects across the country and supported more than 1,600 SMEs through European Union-funded technical assistance.