EBRD and EU support greening of Moroccan pharmaceutical sector

by MMC
0 comment

  • The EBRD will provide 34.5 million euros to Dislog, distributor and manufacturer of everyday consumer goods

  • Funds to support the acquisition of Steripharma, the construction of green industrial facilities and the installation of solar panels

  • EU provides guarantee and technical assistance to promote gender equality

The EBRD supports Moroccoof the private pharmaceutical sector with a loan of 380 million dirhams (34.5 million euros) to Dislog Group, one of the main manufacturers and distributors of various consumer goods.

The facility granted to Dislog will be made up of two tranches. An amount of 270 million dirhams (24.5 million euros) will be used to acquire Steripharma, a local pharmaceutical manufacturer that offers specialized generic medicines at affordable prices to replace expensive original products in the treatment of life-threatening diseases.

The remaining loan of 10 million euros 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 photovoltaic panels are expected to produce energy to power the building and help reduce CO2 emissions. This tranche will be supported by a guarantee from European Union (EU) through its European Fund for Sustainable Development (EFSD), in accordance with the objective of the EU-Morocco Green Partnership.

This investment will enable Dislog to expand in the pharmaceutical industry and capture higher added value in supply chains in Morocco. The acquisition of Steripharma will complement Dislog’s established competency in reaching an extensive network of small distribution points and help increase profits from its existing distribution channels and supply chains.

The loan will be accompanied by a technical assistance project financed by the EU through the FEDD program aimed at improving its human resources policies by implementing a diagnosis and an action plan dedicated to gender. The project will help Dislog promote gender equality and career progression for female workers, as well as policies related to childcare and the prevention of gender-based violence and harassment.

Dislog will also receive a grant from FINTECC program, which helps businesses in EBRD participating economies implement innovative climate technologies. The program is part of and is financed by the EBRD financing programme. Transition approach towards a green economy and is supported by the Global Environment Facility and the European Union.

Dislog is a leading distributor of fast-moving consumer goods, covering over 70,000 retailers across the country. Created in 2005, the company has diversified its activities towards the industrial production of agri-food, hygiene and pharmaceutical products.

The EU EFSD Guarantee Program defends financing and investment in Africa and the EU Neighborhood. It supports EBRD operations in the southern and eastern Mediterranean (Egypt, Jordan, Morocco, Tunisia, Lebanon and the West Bank and Gaza), as well as Eastern Europe and the Caucasus (Armenia, Azerbaijan, Georgia, Moldova And Ukraine).

Morocco is a founding member of the EBRD and became a beneficiary of the Bank’s resources in 2012. To date, the EBRD has invested 4.2 billion euros in the country through 95 projects.

You may also like

Leave a Comment

The news website dedicated to showcasing Africa news is a valuable platform that offers a diverse and comprehensive look into the continent’s latest developments. Covering everything from politics and economics to culture and wildlife conservation

u00a92022 All Right Reserved. Designed and Developed by PenciDesign