EBRD supports Morocco’s manufacturing sector

• EBRD to provide €45.5 million to Eczacıbaşı, producer of hygiene products
• Funds support acquisition of Jeesr, a leading manufacturer of tissue paper products in Morocco
• Project will promote on-the-job training for women and their participation in the job market 

The European Bank for Reconstruction and Development (EBRD) is supporting Morocco’s hygiene products sector with a MAD 500 million (€45.5 million) loan to Eczacıbaşı Consumer Products Maroc SARL AU (ECP Maroc). It is the first cross-border acquisition financing package of its kind.

ECP Maroc is a wholly owned subsidiary of Eczacıbaşı Consumer Products (ECP), the consumer products arm of Eczacıbaşı Holding Group, which specialises in tissue paper products. 

ECP Maroc will use the financing to acquire Jeesr, Morocco’s leading integrated producer of tissue paper products., The EBRD is supporting the Group’s capacity and geographical expansion strategy in Türkiye and Africa. The financing will help the Group to strengthen its presence in the local market through vertical integration to capture additional added value in the tissue paper market in Morocco. It will also support the company’s strategic plans and help it to use its resources as efficiently and effectively as possible. 

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

The project will also enable the company to promote human capital development through a new on-the-job learning programme promoting access to market-relevant and internationally demanded skills. ECP Maroc also aims to increase career opportunities for female employees to strengthen their economic inclusion and participation in white collar occupations.

ECP Maroc S.A.R.L AU, was established in Morocco in 2018 and specialises in producing and marketing tissue paper products. Eczacıbaşı Consumer Products is Türkiye’s leading tissue and hygienic products producer. The Eczacıbaşı Group is a prominent Turkish industrial group with a focus on building products, consumer products, natural resources and pharmaceuticals. 

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