EBRD Grants €34.5m Loan to Dislog for Steripharma Acquisition and Green Projects
EBRD Supports Dislog with €34.5m Funding
The European Bank for Reconstruction and Development (EBRD) is extending a loan of €34.5 million, equivalent to 380 million DH, to Dislog, a prominent manufacturer and distributor of consumer goods. The funding will be utilized for the acquisition of Steripharma, a local pharmaceutical manufacturer, and the erection of ecological industrial platforms.
Two-Tranche Loan for Acquisition and Ecological Projects
The loan will be granted in two tranches. The first tranche of €24.5 million (270 MDH) will be used for the acquisition of Steripharma. Steripharma is known for offering affordable, specialty generic drugs as alternatives to expensive original products for treating serious diseases. The remaining €10 million of the loan will be allocated for the construction of a new ecological industrial building and logistic platform. Additionally, this part of the loan will be used for the installation of photovoltaic panels to generate energy, powering the building and aiding in the reduction of CO2 emissions.
The second tranche of the loan will be supported by a guarantee from the European Union (EU) through its European Fund for Sustainable Development (EFSD), aligning with the objectives of the Morocco-EU Green Partnership.
Additional EU Technical Assistance for Gender Equality
Alongside the loan, the EBRD will also support Dislog with an EU-funded technical assistance project under the EFSD program. This project aims to enhance the company’s gender equality policies, promote career advancement for women, and develop policies related to childcare and the prevention of gender-based violence and harassment.
FINTECC Program Grant for Innovative Climate Technologies
Dislog will also receive a grant from the FINTECC program, which aids companies in EBRD member countries in implementing innovative climate technologies. This program is part of, and funded by, the EBRD’s approach to transitioning to a green economy. It is supported by the Global Environment Facility and the EU.
Dislog’s Expansion into the Pharmaceutical Industry
The EBRD’s loan and the additional EU support will enable Dislog to further develop in the pharmaceutical industry and capture higher added value in supply chains in Morocco. The acquisition of Steripharma will complement Dislog’s established competence in reaching a vast network of small distribution points and help to increase the profits of its existing distribution channels and supply chains.
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