Minapharm Pharmaceuticals' OGM nods to EBRD loan

The ordinary general meeting (OGM) of Minapharm Pharmaceuticals greenlighted a €13.25 million loan from the European Bank for Reconstruction and Development (EBRD), according to a bourse statement.

The investment will be used to refinance part of the company’s short- and medium-term borrowings, as well as to fund capital expenditures and product development at its new production facility.

Moreover, part of the financing will be deployed to set up a new vocational training academy.

The company’s board members discussed the terms and conditions of the loan last month.