The North Africa Post
The EBRD’s 2011 Annual Meeting in Astana, Kazakhstan, 20-21 May 2011.
The European Bank for Reconstruction and Development (EBRD) has announced a €4.3 million loan to Moroccan packaging company Multisac SA, which specializes in the production of woven polypropylene bags.
It is the first local company benefitting from EBRD’s and EU’s Trade and Competitiveness Program, which aims to improve value chains and make businesses more competitive in the country and across the Southern and Eastern Mediterranean region.
Multisac will also benefit from an investment grant under the FINTECC program (Finance and Technology Transfer Centre for Climate Change), to help it optimize its resources.
The EBRD will also provide an expert for five years to advise the company on its growth strategy.
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.
In Januray this year, the EBRD had welcomed the ecological experience of the company Multisac, which has managed to reduce its annual electricity bill by 12% and CO2 emissions by 700 tons per year thanks to solar energy.
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