European Bank for Reconstruction and Development boosts olive oil sector in Morocco
April 1, 2020
The European Bank for Reconstruction and Development (EBRD) is helping to develop the olive oil sector in Morocco with a loan of up to MAD 55 million (€5 million equivalent) to Al Dahra Holding subsidiaries in Morocco, Al Dahra Morocco Factories (ADFAC) and Al Dahra Morocco (ADMO).
The EBRD funds will finance the construction and commissioning of a new olive oil factory in the Fez-Meknes region in Morocco. Through this investment, Al Dahra will leverage its existing olive farms in the Fez-Meknes region and aggregate other olive farmers in the region to start producing olive oil, targeting local and export markets under the brand name “Oliva”.
Morocco is a founding member of the EBRD and became a country of operations in 2012. To date, the Bank has invested over €2 billion in the country through 60 projects.