EIB and Euralis sign €44million loan to finance research in seed activities

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 (EFSI), the central pillar of the Investment Plan for Europe. 


EIB | Updated: 01-06-2021 16:29 IST | Created: 01-06-2021 16:29 IST
EIB and Euralis sign €44million loan to finance research in seed activities
Every year, Lidea invests more than €34 million in research and development to provide a broad and stand-out range of high value-added solutions for conventional and organic farms.  Image Credit: Videoblocks
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The European Investment Bank (EIB) and Euralis Group have signed a €44 million finance contract.

The operation covers financing for the research, development and innovation (RDI) 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 (EFSI), the central pillar of the Investment Plan for Europe.

Every year, Lidea invests more than €34 million in research and development to provide a broad and stand-out range of high value-added solutions for conventional and organic farms. Lidea offers a wide variety of corn, sunflower, straw cereal, rapeseed, soybean, sorghum, dried vegetable, feed and plant cover seeds. To date, 6 million hectares of land in 48 countries have been seeded with Lidea products.

The various programmes will be rolled out in Euralis' research facilities and innovative sites in France, Germany, Romania, Spain and Poland.

"We welcome this first partnership", said Euralis Group General Director Philippe Saux. "Innovation lies at the heart of the strategy of developing and conquering new markets for Euralis. Innovation must bring added value to farmers. R&D ensures an ever-increasing flow of genetic and varietal innovations to meet the needs of farmers and markets while taking into account the environmental dimension. In the face of climate challenges, the trust of the European Investment Bank and its support for our research projects will clearly accelerate the marketing of concrete solutions from the agricultural world."

"We are very pleased with this first partnership with a cooperative that plays a central role in the agricultural sector in France and whose activity in the development of new seeds increases farmers' competitiveness and resilience to the impact of climate change," said EIB Vice-President Ambroise Fayolle. "Europe 's capacity for research in agricultural biotechnology is now of strategic importance and this support from the EU bank for Euralis' projects will enable Europe to strengthen its position in this field by creating the seeds of tomorrow."

European Commissioner for Economy Paolo Gentiloni, said: "This agreement between the EIB and the Euralis agricultural cooperative group, backed by the Investment Plan for Europe, will unlock additional investments for the research and development of new non-GMO seed varieties. This will allow farmers in France and across Europe to improve the climate resilience and competitiveness of their crops and therefore also boost their revenues. We will continue to support the agricultural sector, which plays a key role in putting food on our tables and maintaining rural communities."

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;

· strengthen Euralis' strategy to accelerate its competitiveness in the seed sector with the ultimate aim of optimising farmers' incomes.

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