The European Bank for Reconstruction and Development (EBRD) is providing a loan of up to €20 million to Uzbek pharmaceutical producers JV LLC «Samarkand England Eco-Medical» (SEEM) and Bayan Medical. The funds will be directed towards a large-scale expansion of production capacities, the installation of new technological lines, and the enhancement of the enterprises’ financial stability.
Investment Focus and Modernization
SEEM (the second-largest producer of intravenous solutions in Uzbekistan) and its affiliated company Bayan Medical specialize in the production of infusion fluids, as well as generics and specialized medicines in tablet and capsule forms.
The attracted financing will enable the implementation of the following infrastructure projects:
- For SEEM: procurement and launch of new production lines for intravenous solutions in glass containers, antibiotics, syrups, suspensions, medical water, nasal sprays, ointments, and suppositories.
- For Bayan Medical: energy-efficient upgrades of manufacturing facilities, acquisition of a Blow-Fill-Seal (BFS) ampoule production line, and other specialized equipment.
Furthermore, the allocated funds will allow both companies to restructure their balance sheets.
Import Substitution Course and Social Initiatives
Currently, about 75% of medical goods in the Uzbek market are imported. The EBRD investment project aims to stimulate the growth of the domestic pharmaceutical industry, promote further production localization, and modernize the sector.
Alongside the production expansion, social initiatives are being implemented: Bayan Medical will launch an internship program for university graduates, organize specialized training for current employees, and create dedicated employment opportunities for people with disabilities.
Reference: To date, the EBRD has invested nearly US$ 6.9 billion (€5.8 billion) across 205 projects in Uzbekistan. The country has remained the leading recipient of EBRD funding in Central Asia for each of the past six years.
Project Summary
| Parameter | Details |
|---|---|
| Investor | European Bank for Reconstruction and Development (EBRD) |
| Funding Volume | Up to €20 million |
| Recipients | JV LLC «Samarkand England Eco-Medical» (SEEM) and Bayan Medical |
| Purpose | Procurement of new lines (including BFS technology), energy-efficient upgrades |
| Import Share in Uzbekistan | 75% (the project is aimed at import substitution) |
| Social Aspect | Internships for graduates, job creation for people with disabilities |
