Brussels, 22/10/2015 (Agence Europe) - On Wednesday 21 October, the European Bank for Reconstruction and Development (EBRD) announced that it is providing a loan of up to €4.6 million to finance the construction and operation of a new factory powered by solar energy.
The loan will go to Maghreb Industries S.A., a leading Moroccan producer of chewing gum and confectionery. The company's new factory will be partly powered by a 1.4 megawatt solar plant on its rooftop, the EBRD states.
“Maghreb Industries is an excellent example of how strong local companies can successfully compete in international markets”, said Gilles Mettetal, EBRD director for agribusiness. “The company exports half of its production to Europe, the United States and Africa”.
The construction and operation of the new energy-efficient factory comes under the EBRD's FINTECC (Finance and Technology Transfer Centre for Climate Change) programme.
The EBRD has to date invested more than €400 million in 20 projects across Morocco, in addition to €130 million of trade facilitation credit lines with local banks. (Original version in French by Fathi B'Chir)