EBRD and EU support first Moroccan business under Value Chain and Competitiveness Programme in Morocco

EBRD and EU support first Moroccan business under Value Chain and Competitiveness Programme in Morocco

• EBRD and EU support first Moroccan business under Value Chain and Competitiveness Programme in Morocco
• FINTECC programme to optimise the resources of Multisac
• Company to receive technical assistance through Blue Ribbon programme.

LONDON, 25-Sep-2018 — /EuropaWire/ — Supporting the development of the packaging industry in Morocco, the European Bank for Reconstruction and Development (EBRD) is providing a financing package of up to €4.3 million in local currency (Moroccan dirham) to Multisac SA.

Multisac, a Moroccan manufacture, is the first local company recipient of the EBRD’s and EU’s Value Chain and Competitiveness Programme, which aims to improve value chains and make businesses more competitive in the country and across the Southern and Eastern Mediterranean region.

The company will also benefit from an investment grant under the FINTECC programme (Finance and Technology Transfer Centre for Climate Change), to help it optimise its resources. The EBRD will also provide experts for five years to advise the company on its growth strategy under its Blue Ribbon programme. Launched  in 2016 this Programme targets high growth enterprises, offering them a combination of financial and advisory products.

Multisac was founded in 2006 and now supplies several sectors, including the agricultural, food, manufacturing, chemicals and animal fodder industries. With partners in more than 20 countries, the business has become both a national leader and an international competitor through the close relations it has fostered with customers and its ability to innovate.

The EBRD is an international organisation whose mission is to help countries transition effectively towards a market economy with investments that have a positive impact on people’s lives. The EBRD has invested close to €1.6 billion in Morocco across nearly 45 projects since 2012. The Bank has also provided technical assistance to more than 380 local companies.

SOURCE: EBRD

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