The economies of the Southern and eastern Mediterranean region, which stretches from Morocco to Lebanon, have their share of the crisis. Across many sectors of the economy, solidarity has been evident as companies have switched their production to support the health sector. A number of firms supported by the European Bank for Reconstruction and Development (EBRD) with finance or advisory services have joined the effort:

– In Morocco, Dolidol, a mattress factory, started producing facemasks at the beginning of April. The company now produces 2,000 masks a day.

– In Tunisia, Enova Robotics, a start-up benefiting from the EBRD’s Advice for Small Business support, has developed robots that help the Ministry of the Interior to implement the lockdown in Tunis.

– In Egypt, El Sewedy Electric, one of the largest cable and electrical product manufacturers in the Middle East and Africa, has donated medical supplies to the Egyptian Ministry of Health. Since 2017, the company has benefited from EBRD loans providing working capital.

– MedLabs, a leading network of private diagnostic medical laboratories in the region, has responded to a call from Jordan’s Ministry of Health to help plan mass tests while keeping people safely at home.

– As the economic crisis brought Lebanon to a standstill, Blessing, a gift and catering company for special events, launched the ‘Get a Blessing, Give a Blessing’ initiative in April, together with Beit al Baraka, a Lebanese NGO that supports retirees and families in need.

– In the West Bank and Gaza, the Palestinian mattress manufacturer Zoom Bags has changed its production line to medical coveralls, which the health sector needs urgently.

Responding to the coronavirus crisis, the EBRD has rapidly stepped up support for its regions, launching a swift response and recovery programme to help the 38 emerging economies where it invests. The Bank now expects to dedicate the entirety of its activities to combating the economic impact of the crisis and stands ready to provide support worth €21 billion over the 2020-21 period.

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Press Release

European Bank for Reconstruction and Development (EBRD)