FrieslandCampina says it will use the funding for research and development activities in facilities around Europe, with the lion’s share to be carried out in its innovation center in Wageningen in the Netherlands.
The activities will focus on the areas of nutrition, food structuring, packaging and process technology, as well as sensory and dietary demand aspects for dairy products.
Financing European research
Hein Schumacher, CFO of Royal FrieslandCampina NV, said the loan gives the company the opportunity to finance European research, development and innovation activities.
“These activities are mainly carried out in our innovation centre in Wageningen where more than 300 R&D employees in various disciplines from all over the world are working together to unlock the nutritional potential of milk,” Schumacher said.
EIB vice-president Pim van Ballekom said, “Milk and its derivatives are central to most people’s diets and the importance of the research and development surrounding the products they consume should not be underestimated.
“Although we have already supported agriculture through SME credit facilities in the past, we see this operation as a clear example of what the EIB can do for the sector.”