EBRD: Strengthening fruit and vegetable production in Morocco
September 27, 2016
The European Bank for Reconstruction and Development (EBRD) is bolstering the agribusiness sector in Morocco with a EUR 2.5 million senior loan to Maïsadour Maroc and Maïsadour Agri Maroc, subsidiaries of Groupe Coopératif Maïsadour, an important French agricultural cooperative.
The EBRD financing will help Maïsadour to expand its production of quality fruit and vegetables in Morocco and particularly the rural region of Souss-Massa in southern Morocco.
Production is organised both on Maïsadour’s own plantations and in cooperation with 25 local farms. With this EBRD-financed project Maïsadour will increase the number of local partners it works with, therefore allowing more farms to benefit from Maïsadour’s know-how, technical support and access to international markets. Maïsadour helps its local partners to achieve international standards. Moreover, a dedicated team assists the producers in the implementation of good environmental practices.
The EBRD is also supporting the increased use of sustainable climate-friendly agricultural inputs with a EUR 24 million loan to Elephant Vert, a Morocco-based producer of bio-fertilisers, bio-pesticides and bio-stimulants. The EBRD’s financing will allow Elephant Vert to significantly boost the development, output and distribution of these biological products, which are used to increase agricultural yields while remaining cost-efficient and environmentally friendly. The switch away from chemical fertilisers should lead to significant greenhouse gas emission savings of over 150,000 tonnes of CO2 equivalents each year in Morocco.
The EBRD started investing in Morocco in 2012. To date, the Bank has invested over EUR 1 billion in 26 projects across the country. (EU Neighbourhood Info)