EBRD supports Morocco’s manufacturing with €45.5 Mln funding

The European Bank for Reconstruction and Development (EBRD) announced on Wednesday a €45.5 million loan to Eczacıbaşı Consumer Products Maroc (ECP Maroc) to enable the Moroccan subsidiary of Turkish group Eczacıbaşı Consumer Products (ECP) to acquire Jeesr, a leading manufacturer of tissue paper products in Morocco.

This is the Bank’s first cross-border acquisition financing package of its kind. The loan will help the Turkish Group to strengthen its presence in the local market.

By acquiring Jeesr, ECP Maroc will be able to unlock synergies in terms of economies of scale, cross-selling of products, efficiency improvements and optimization of production lines, leading to higher production capacity and efficiency.

Morocco is a founding member of the EBRD. Since 2012, the European Bank has injected €4.5 billion in 102 projects carried out in the North African Kingdom.