| Work Detail |
The European Bank for Reconstruction and Development (EBRD) will back the development of the packaging industry in Morocco with a €15 million loan in local currency to Multisac SA.
The funds will support the introduction of biaxially oriented polypropylene films to the companys product range. These are reusable and recyclable flexible packaging films that have a low carbon footprint.
The Banks investment will also finance the construction of a new green manufacturing plant. This building will feature the Building Research Establishment Environmental Assessment Method (BREEAM) certification. The new plant will also help expand Multisacs bag production capacity from 220 million to 250 million units annually.
The EBRDs loan is back by a European Union (EU) guarantee through the European Fund for Sustainable Development (EFSD), which focuses on sustainable investments in green infrastructure, logistics chains, energy efficiency and green technology transfers in industrial processes. In addition, the EU will support the project with technical cooperation. |
