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TunisiaEuropean Bank for Reconstruction and Development and EU support expansion of cheese maker Land’Or in Morocco and Tunisia
The European Bank for Reconstruction and Development (EBRD) is strengthening the agribusiness sector in Morocco and Tunisia with a total loan equivalent to €10.9 million to Land’Or, a leading Tunisian processed cheese maker. The operation is supported by the European Union.
In Tunisia, the EBRD will provide a loan of 10 million dinar (€3.1million equivalent) to procure new machinery and increase the production capacity. Land’Or will also optimise the processes in its Tunisian plant by improving its industrial standards, investing in productivity, quality and safety.
Meanwhile, Land’Or’s subsidiary in Morocco, Land’Or Maroc Industries (LMI), will receive a loan of 82.2 million dirham (€7.8 million equivalent) to finance the acquisition and installation of equipment at its new cheese manufacturing plant, to be built in Kenitra, north of Rabat.
The EBRD places a strong emphasis on providing finance for private sector firms in Morocco and in Tunisia. Both countries became economies where the EBRD invests in 2012. To date, the EBRD has invested close to €2.5 billion in Morocco through 66 projects. In Tunisia, the Bank has invested €950 million across 47 projects.
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Countries covered:
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Morocco
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Tunisia
