EBRD supports Morocco’s packaging industry with €15 Mln funding

The European Bank for Reconstruction and Development (EBRD) is supporting Morocco’s packaging industry with a €15 million loan provided to Multisac SA, local manufacturer of woven polypropylene bags in Morocco.

The announcement of the funding coincides with the visit of EBRD chief Renaud Bassu is paying to Morocco.

The €15 million loan will support the introduction of biaxially oriented polypropylene films to the company’s product range. These are reusable and recyclable flexible packaging films that have a low carbon footprint.

The Bank’s investment will also finance the construction of a new green manufacturing plant, complete with Building Research Establishment Environmental Assessment Method (BREEAM) certification, and the expansion of Multisac’s bag production capacity from 220 million to 250 million units annually.

In 2022, the Bank more than doubled its investment in Morocco, providing more than €528 million for 14 projects, up from €211 million in 2021.

It delivered record investment of €360 million in the private sector and €170 million in support of Morocco’s green economy. Fifty-eight per cent of all investments had a gender and inclusion focus.

In 2022, the Bank held its Annual General Meeting for the first time in Morocco, under the theme, “Responding to Challenges in a Turbulent World”.