The European Bank for Reconstruction and Development (EBRD) gave a loan of €15 million in local currency to the innovative Moroccan packaging manufacturer “Multisac”, said EBRD Wednesday in a statement.
The funds will help the company expand its line of polypropylene films that are biaxially orientated.
The bank’s investment will increase the producing capacity of Multisac from 220 million to 250 million units yearly. It will also help build a new environmentally friendly manufacturing facility that is certified by Building Research Establishment Environmental Assessment.
The EU will also provide technical support, added the statement.
Multisac was founded in 2006 and is the leading producer of woven polypropylene bags in Morocco.