- Plastikpack will benefit from 65 million Moroccan dirhams (about €5.9 million) in financing to diversify its activities in the Kingdom.
- The recycling project will benefit from an investment grant provided under the High Impact Climate Action Partnership (HIPCA).
Plastikpack, a plastic packaging manufacturer based in Sidi Bou Othmane, in the Marrakech-Safi region, Morocco, will benefit from 65 million Moroccan dirhams (about €5.9 million) in financing to diversify its activities in the Kingdom. The loan validated on 22 November 2022 by the European Bank for Reconstruction and Development (EBRD) will help the company set up a plant to recycle polypropylene into plastic pallets and crates. Plastikpack Maroc also plans to transform its Sidi Bouathmane unit by focusing on renewable energy. As a result, the company will substitute a large part of its energy consumption with greener fuel, having more than 8,000 m² of solar panels installed, thus reducing its carbon footprint by 1,253 tonnes per year.
The EBRD, in a comment, said, “We will monitor the environmental and social performance of the project and the implementation of the Environmental and Social Action Plan (ESAP) by reviewing the annual environmental and social reports (AESR) and conducting site visits if necessary.”
The recycling project will benefit from an investment grant provided under the High Impact Climate Action Partnership (HIPCA). The grant will fund the purchase of more advanced materials and technologies in the design of Plastikpack Maroc’s recycling plant to improve its energy performance and achieve green building certification. The new EBRD funding will also support Plastikpack Maroc in its expansion, particularly in the manufacture of packaging for pharmaceutical products.