Release date: 3 January 2022
Promoter – Financial Intermediary
KONINKLIJKE FRIESLANDCAMPINA NVLocation
Description
The project entails the financing of Royal Friesland Campina's research, development and innovation (RDI) programme in the Netherlands, Belgium and Germany for the 2021-2024 period, covering the areas of nutrition, dairy physics and chemistry, packaging, process technology, cheese technology, food sensory properties, farm sustainability and digitalisation.
Additionality and Impact
The project entails the financing of Royal FrieslandCampina's RDI programme in The Netherlands, Belgium and Germany for the 2021-2024 period, covering a number of areas, from nutrition, to packaging, from farm sustainability to digitalization.
The programme will help RFC build up long-term science competitiveness in line with its sustainability strategy, which is inspired by the United Nations Sustainable Development Goals. The project follows the EU policy orientations towards the promotion of research and innovation on sustainable food systems, falling under Cluster 6 of the Horizon Europe Programme: "Food, Bioeconomy, Natural Resources, Agriculture and Environment".
In line with EU and EIB policy objectives of competitive innovation, the project generates knowledge, environmental and health externalities that are not fully covered by future sales revenues. Important economic benefits of the project are increased sustainability and CSR at the levels of sourcing, processing, and health and well-being of consumers and the wider community. Having RDI directly focusing on carbon neutral, circular packaging, and sustainable sourcing contributes to reducing the footprint of dairy industries. As a result, the project is considered Paris aligned, contributing to climate action and environmental sustainability.
The Bank's financial contribution largely stems from the flexibility of customized terms provided, in terms of the tenor, grace periods and drawdown conditions. This flexibility is complemented by the advantageous financial offer and the Bank's ability to act as a stable financing source for the company.
Objectives
The operation concerns the financing of Royal Friesland Campina's RDI program, covering the areas of nutrition, food structure, packaging, process technology, food sensory properties, farm sustainability and digitalization. The activities will be carried out predominantly in the Netherlands between 2021 and 2024 by a leader in the dairy sector in the EU.
Sector(s)
- Industry - Manufacturing
Proposed EIB finance (Approximate amount)
EUR 150 million
Total cost (Approximate amount)
EUR 360 million
Environmental aspects
The project concerns investments in research and development that are expected to be carried out in existing facilities, already authorised, and which would therefore not require an environmental impact assessment (EIA) under Directive 2011/92/EU as amended by Directive 2014/52/EU
Procurement
The promoter is a private company not operating in the utilities sector, and is thus not covered by EU directives on procurement.
Status
Signed - 22/12/2021
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).