EBRD supports Morocco’s pharmaceutical industry with €34.5 Mln funding

The European Bank for Reconstruction & Development (EBRD) announced on Monday a €34.5 million loan to Dislog Group, a leading manufacturer and distributor of hygiene & pharmaceutical products.

The funding consists of two tranches. €24.5 million will be used by Dislog to acquire Steripharma, a local pharmaceuticals manufacturer that provides affordable specialty generics medicines to replace expensive original products in the treatment of life-threatening diseases.

The remaining €10 million loan will finance the construction of a new green-certified industrial building and logistics platform as well as the installation of photovoltaic (PV) panels. The new PV panels are expected to generate energy to power the building and will help reduce CO2 emissions.

This tranche is supported by a guarantee from European Fund for Sustainable Development (EFSD) in line with EU-Morocco Green Partnership.

The investment will enable Dislog to expand into the pharmaceuticals industry and capture higher added value in the supply chains in Morocco. The acquisition of Steripharma will complement Dislog’s established competence in reaching a wide network of small distribution outlets and help increase profit from its existing distribution channels and logistics chains.

Dislog will also receive a grant from the FINTECC Program, which helps companies in participating EBRD economies to implement innovative climate technologies.