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EIB Loans 50m Euros to Polish Dairy Producer

23 December 2016

POLAND - The European Investment Bank (EIB) said it loaned 50 million euros(52.27 million US dollars) to a heavyweight dairy producer in Poland to boost the country's dairy section on Thursday.

An agreement was sighed with Mlekpol,the biggest producer of milk and dairy products in Poland, the bank said, adding that the loan was expected to finance construction of a new dairy production plant.

A total of 160 people were expected to be employed in the plant once it becomes operational, the bank noted.

The money comes from the European Fund for Strategic Investments, the heart of the Investment Plan for Europe, a project which amounts to 315 billion euros to bolster the continent's investment and growth.

"Expanding and modernizing Europe's production facilities requires sustained investment," said Jyrki Katainen, vice president of the European Commission, expressing the hope that the investment would boost high-quality products and create new jobs.

TheCattleSite News Desk



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