EBRD boosts Morocco's hygiene sector with MAD 500 million loan

The European Bank for Reconstruction and Development (EBRD) has loaned MAD 500 million (€45.5 million) to Morocco's hygiene products sector through ECP Maroc, a subsidiary of Eczacıbaşı Consumer Products (ECP), according to a press release on Wednesday.

The financing is the first cross-border acquisition package of its kind. ECP Maroc will use the funds to acquire Jeesr, a leading Moroccan producer of tissue paper products.

«The financing will help the Group to strengthen its presence in the local market by combining operations to capture additional value in the Moroccan tissue paper market», EBRD explains, adding that it will also support the company's strategic plans and optimize resource efficiency.

By acquiring Jeesr, ECP Maroc will be able to «unlock synergies in terms of economies of scale, cross-selling of products, and production line optimization, leading to higher capacity and efficiency».

Established in 2018, ECP Maroc specializes in producing and marketing tissue paper products. Eczacıbaşı Consumer Products is Türkiye's leading tissue and hygiene products producer.

For the record, Morocco is a founding member of the EBRD and has been a beneficiary of Bank resources since 2012. To date, the EBRD has invested €4.5 billion in the country through 102 projects.