📋 Tender Overview
Reference: 20240557
Release date: 22 October 2025
Promoter – Financial Intermediary
BIOVET AD
Location
Bulgaria
EU Countries
Description
The project will finance research, development, and innovation (RDI) investments by Biovet AD and Huvepharma EOOD (the Borrowers) in Bulgaria and other EU Member States.
Additionality and Impact
The financing of this project by the European Investment Bank (EIB) is justified from a public policy perspective due to its strong alignment with the EU's key priorities, including innovation, competitiveness, and cohesion. The project addresses critical public health concerns by improving animal health, which in turn enhances food safety, reduces antibiotic resistance, supports sustainable livestock production, and leads to reduction of greenhouse gases. Located in Bulgaria, a cohesion region, the project contributes to the EU's goal of fostering economic and social cohesion by creating highly skilled jobs and strengthening the local economy. It also contributes to several UN Sustainable Development Goals (SDGs), including good health (SDG3), gender equality (SDG5), decent work (SDG8), and industry innovation (SDG9), making it a high-impact investment in both regional and global terms.
The project would not be carried out to the same extent without support from the InvestEU Fund. Its financing (i) contributes to the InvestEU primary objectives of research, development and innovation, health and Midcaps, with cross-cutting objectives of economic and social cohesion; (ii) addresses the failure in financial markets for RDI-driven companies suffering from systemic shortages of large, non-dilutive financing options for growth investments requiring a longer time horizon with inherently higher levels of risks. RDI is associated with externalities, i.e. positive knowledge and technology externalities, through the creation of innovative processes, products and services and through skills development and upgrading, which the Company generally fails to internalize, leading to underinvestment.
The EIB loan provides flexible financing and contributes to the Promoter's average financing maturity extension. In addition, EIB has a catalytic effect on the commercial banks by signalling creditworthiness of the Borrower/Guarantors and the soundness of the project in a volatile market context.
Objectives
The aim is to support the borrowers' RDI investments in feed additives, complex veterinary pharmaceutical products and vaccines. Improving animal health enhances food safety, reduces antibiotic resistance by promoting the use of vaccines, and supports sustainable livestock production. It also contributes to the expansion of EU-based animal health manufacturing.
Sector(s)
Industry - Manufacturing
Health - Professional, scientific and technical activities
Proposed EIB finance (Approximate amount)
EUR 130 million
Total cost (Approximate amount)
EUR 280 million
Environmental aspects
The project's RDI a
