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    Signature(s)

    Amount
    € 15,000,000
    Countries
    Sector(s)
    Greece : € 15,000,000
    Industry : € 15,000,000
    Signature date(s)
    6/05/2016 : € 7,500,000
    6/05/2016 : € 7,500,000

    Summary sheet

    Release date
    10 May 2016
    Status
    Reference
    Signed | 06/05/2016
    20150735
    Project name
    Promoter - financial intermediary
    AGRO FOOD INDUSTRY RDI (MGF)
    CRETA FARM INDUSTRIAL AND COMMERCIAL CO
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 15 million
    Not disclosed.
    Location
    Sector(s)
    Description
    Objectives

    The project will finance Creta Farm's expansion plan through the development of new product lines in the premium branded meat snack and dairy segments based on the company's Oliving technology and with enhanced taste and health properties. The project costs incorporate the company's research, development and innovation (RDI) expenses and innovation-related capital expenditure (Capex) investments at its production facility in Crete over the period from 2016 to 2019.

    The project is expected to maintain and increase the promoter's know-how in the premium branded meat snack and dairy segments, and its international expansion through exporting and licensing. Furthermore, the transaction would bring financial support to a Greek company which has constantly been contributing to employment in Greece.

    Environmental aspects
    Procurement

    The promoter's production facilities are certified under the highest industry and quality standards. The project is deemed to meet EIB environmental and social standards and is therefore acceptable for the Bank's financing.

    The promoter is a private company not operating in the utilities sector and not having the status of a contracting authority. Thus it is not covered by EU directives on procurement.

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Documents

    Environmental and Social Data Sheet (ESDS) - AGRO FOOD INDUSTRY RDI (MGF)
    Publication Date
    19 May 2016
    Document language
    Main Topic
    Lending
    Document Number
    66530290
    Document Focus
    Environmental Information
    Project Number
    20150735
    Sector(s)
    Regions
    Countries
    Publicly available
    Download now

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    Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
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