KWS SAAT provided with a EUR 200 mln loan by EIB

The European Investment Bank (EIB) is providing a EUR 200 mln loan to KWS SAAT SE & Co. KGaA, a parent company of KWS-UKRAINE.

The funds provided by the EU bank are to be used by KWS for research and development in the EU, the report reads. Like KWS, the EIB hopes that these funds will make a valuable contribution to the objectives of the European Green Deal, and in particular the Farm to Fork strategy developed by the European Commission.

The EIB Vice-President responsible for innovation and for operations in Germany, Ambroise Fayolle, said: "Innovation in new seed varieties is vitally important if we want to ensure agricultural productivity under changing agro-climatic conditions. The only way we will be able to select plants that can withstand changing abiotic and biotic stresses and use nutrients and water from the soil more efficiently is through targeted research."

He noted that the development of improved, not genetically modified varieties of agricultural crops helps reduce the use of pesticides and fertilisers and significantly contributes to sustainable agriculture.

"We are delighted with the European Investment Bank’s strong commitment to innovation and climate action in agriculture. A major joint effort is required to respond to the challenges of climate change and climate action in agriculture," KWS’s CFO Eva Kienle added.

As a reminder, KWS announced the acquisition of the Dutch company Pop Vriend Seeds in June 2019.