Project FMCG Morocco

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Overview

A MAD 440 million loan to Dislog Group S.A. to support the company's acquisition of various companies in the FMCG and pharmaceutical sectors, as well as construction and acquisition of industrial and logistics platforms. The capex component also includes the installation of photovoltaic panels to supply a significant portion of the company's annual energy consumption from renewable sources and a green building certification.

Project ID 54395

Status Repaying

Location

Morocco

Business Sector

Manufacturing and Services

Notice Type

Private

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Company Contact Information

Zakaria Jerrari
z.jerrari@dislogroup.com
05-22-27-78-43
https://hns.ma/
409 Route El Jadida; Casablanca, 20410

Project ID 54395

Status Repaying

Location

Morocco

Business Sector

Manufacturing and Services

Notice Type

Private

Environmental Category

Approval Date

31 May 2023

Disclosure date

25 Apr 2023

Project FMCG Morocco (French) (PDF, 0.13MB)

Project description

Project objectives

The Project will enable the company to expand into the pharmaceutical sector and capture higher added value in the FMCG supply chains in Morocco. In addition, the loan will support the company's Green Economy Transition (GET) investments and help close gender gaps among its workforce.

Transition impact

ETI Score:67

ected transition impact of the project derives from the "Competitive" transition quality, as it delivers operational improvements, and "Inclusive" transition quality, given the client's commitment to promote more open and equal economic opportunities in the group. The Project qualifies as 25 per cent GET-eligible thanks to the supported investments in solar panel installations and a green building certification.

Client information

DISLOG GROUP SA

Dislog Group S.A. is the main operating entity of Dislog Group. Dislog Group S.A consolidates and owns a diversified Moroccan business operating in various sectors, including the manufacturing and distribution of FMCG products. Dislog Group is mainly owned by H&S Holding ("H&S").

Building Logistics S.A. ("BLS"), a PropCo structure owned by H&S, develops and owns logistics platforms and commercial real estate assets in Morocco.

H&S is a diversified Moroccan group operating in five areas of activity (distribution and logistics, industry, real estate, communication, digital and press).

EBRD Finance Summary

MAD 440,000,000.00

MAD 440 million to be provided in two tranches to finance a part of the Project, specifically the acquisition of a company and construction and acquisition of industrial and logistics platforms and installation of photovoltaic panels.

Total project cost

Investment plan, which includes acquisitions and capital expenditures.

Additionality

Financial additionality stems from the financial structure thanks to the EBRD's ability to provide financing in MAD.

Non-financial additionality stems from standards setting, as the project qualifies as Gender Transition Impact and GET-eligible.

Environmental & Social Summary

Categorised B (2019 ESP) and High-Medium risk in relation to acquisition of industrial companies with operations in pharmaceuticals and FMCG. The E&S issues associated with the Project include Occupational Health and Safety, labour and working conditions, HR policies and practices, collective bargaining agreement conditions, hazardous substances management, gender gap, management of contractors and suppliers mainly associated with supply of agricultural feedstock, energy and water efficiency, wastewater treatment and client's E&S management systems. In-house Environmental and Social (E&S) due diligence undertaken by ESD included a review of the Project questionnaire, current EHS and Quality Management policies, relevant procedures, E&S Impact Studies related to the expansion of operations and practices to assess existing E&S including DD practices for M&A.

An Environmental and Social Action Plan (ESAP) has been developed based on the ESDD. Noting the sensitivities of the Bank to supply chain risk, the EBRD supply chain management approach has been applied. Total power output from the project will be less than 5MW allowing the use of the Green Technology Selector to help choose approved suppliers. The project is considered aligned with the Paris Agreement for climate mitigation as it features in the joint MDB "aligned list". The project is deemed not significantly exposed to physical climate risks and is considered Paris aligned for climate adaptation. The project is 25 per cent GET-eligible based on the Capex plan for installation of PV panels and an energy efficient building certified under a scheme which meets GET eligibility.

Technical Cooperation and Grant Financing

Technical Cooperation support for this Project will be provided by the European Commission through the European Fund for Sustainable Development Municipal Infrastructure and Industrial Resilience (EFSD MIIR) Programme and FINTECC Programme funded through the EBRD Special Shareholder Fund (SSF).

Company Contact Information

Zakaria Jerrari
z.jerrari@dislogroup.com
05-22-27-78-43
https://hns.ma/
409 Route El Jadida; Casablanca, 20410

PSD last updated

25 Apr 2023

Understanding transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with the EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and its associated Environmental and Social Requirements (ESRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”. The ESP and the ESRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation, and to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about the environmental and social (E&S) performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD also requires its clients to disclose information, as appropriate, about the risks and impacts of projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all of the Bank's activities in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The EBRD believes that identifying and resolving issues in the project assessment and approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts andhelps to monitor integrity risks in projects post-investment.

OCCO is further responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, either within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to compliance@ebrd.com. OCCO will follow-up all matters reported. It will review all matters reported. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP, which entered into force on 1 January 2025, sets out how the EBRD discloses information and consults with its stakeholders to promote better awareness and understanding of its strategies, policies and operations. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (for example, through the client’s project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the mechanism is: to support dialogue between project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or the project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate and how to submit a Request for review. Alternatively, contact IPAM by email at ipam@ebrd.com for guidance and more information on IPAM and how to submit a request.

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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Project FMCG Morocco

Overview

Project timeline

Company Contact Information

Project description

Project objectives

Transition impact

Client information

EBRD Finance Summary

Total project cost

Additionality

Environmental & Social Summary

Technical Cooperation and Grant Financing

Company Contact Information

PSD last updated

Understanding transition

Business opportunities

General enquiries

Environmental and Social Policy (ESP)

Integrity and compliance

Access to Information Policy (AIP)

Independent Project Accountability Mechanism (IPAM)