EBRD provides 45.5 mln euro loan to Eczacıbaşı

ISTANBUL

The European Bank for Reconstruction and Development (EBRD) has said it is supporting Morocco’s hygiene products sector with 45.5 million euros of loan to Eczacıbaşı Consumer Products Maroc SARL (ECP Maroc).

It is the first cross-border acquisition financing package of its kind, the development bank said in a statement.

ECP Maroc is a wholly owned subsidiary of Eczacıbaşı Consumer Products (ECP), the consumer products arm of Eczacıbaşı Holding Group, which specializes in tissue paper products.

ECP Maroc will use the financing to acquire Jeesr, Morocco’s leading integrated producer of tissue paper products.

The EBRD is supporting the Group’s capacity and geographical expansion strategy in Türkiye and Africa, the statement added.

“The financing will help the Group to strengthen its presence in the local market through vertical integration to capture additional added value in the tissue paper market in Morocco.”

It will also support the company’s strategic plans and help it to use its resources as efficiently and effectively as possible, the EBRD said.

ECP Maroc also aims to increase career opportunities for female employees to strengthen their economic inclusion and participation in white-collar occupations, according to the EBRD.

ECP Maroc S.A.R.L AU was established in Morocco in 2018 and specializes in producing and marketing tissue paper products. Eczacıbaşı Consumer Products is Türkiye’s leading tissue and hygienic products producer.