The European Investment Bank (EIB) is providing a €40 million long-term loan to the Belfast-based agricultural company, Devenish Nutrition, enabling it to conduct research on animal nutrition and the production of foods using environmentally friendly processes.
Devenish has also secured commercial loans of €78 million from Ulster Bank in the Republic of Ireland and Danske Bank of Denmark bringing the total amount of capital raised to €118 million.
The EIB is the European Union’s long-term lending institution established in 1958 under the Treaty of Rome.