EIB and Euralis sign €44m loan deal for new seed varieties research
The European Investment Bank and French agricultural and food cooperative Euralis Group have signed a €44 million financing deal.
The operation covers financing for the research, development and innovation activities of Lidea (Euralis’ seed activities) related to the creation, registration, production and marketing of new varieties of non-GMO seeds for agricultural use.
This is the first long-term partnership between the EIB and the Euralis Group to be set up under the European Fund for Strategic Investments, the central pillar of the Investment Plan for Europe.
This contribution of additional resources makes it possible, in the long term, to increase farmers’ resistance and competitiveness in the face of climate change with the creation of new varieties of high-yield crops; and strengthen Euralis’ strategy to accelerate its competitiveness in the seed sector with the ultimate aim of optimising farmers’ incomes.
