The Juncker Plan has backed a European Investment Bank (EIB) loan of up to EUR 30 million to Valio, a Finnish dairy producer, to support an extensive research, development and innovation programme. The European Fund for Strategic Investments (EFSI), the central pillar of the Juncker Plan, was a crucial factor in making this loan agreement possible. Valio's research activities will centre on dairy chemistry and related technologies...
The objective is to create innovative solutions to enhance dairy food production efficiencies. The loan will also finance investment in the laboratory equipment required to carry out this research programme, the systems required to implement the outcomes of that research and studies on consumer preferences. European Commission Vice-President, Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, said: "Valio, a food industry giant in Finland, is also a global frontrunner in dairy ingredients due to its investments in research and development. Modernising Europe's food industry and agricultural production technologies, supporting the research programmes underpinning that modernisation, as well as bringing innovative agricultural products to the market, requires sustained investment. That is where the Investment Plan for Europe can play an important role. I am delighted that today's EFSI-backed loan agreement will allow Valio to invest in the equipment and research required for its development and innovation programme. This Finnish success story can continue to innovate, expand and create new jobs." A full press release is available here. 