` European Bank Funds Olive Oil Expansion in Morocco - Olive Oil Times

European Bank Funds Olive Oil Expansion in Morocco

Apr. 1, 2020
Paolo DeAndreis

Recent News

The European Bank for Reconstruction and Development (EBRD) has announced new funds to sus­tain the devel­op­ment of olive oil pro­duc­tion in Morocco.

A loan of up to MAD 55 mil­lion ($5.58 mil­lion) has been ear­marked for the con­struc­tion of an olive oil mill in the Fez-Meknes region and for other projects aimed at increas­ing the num­ber of farm­ers involved in the olive oil pro­duc­tion in the area.

The brand Oliva” was coined to help local olive oils reach inter­na­tional mar­kets. The loan is des­tined to boost the activ­i­ties of the Al Dahra Holding sub­sidiaries in the coun­try, ADFAC (Al Dahra Morocco Factories) and ADMO (Al Dahra Morocco).

While EBRD has tar­geted invest­ments for the devel­op­ment of Moroccan agri­cul­ture in the past, this is the first time that it has directed its efforts specif­i­cally to improve the pro­duc­tion means avail­able to olive farm­ers.

It comes on top of a five-year pro­gram spon­sored by EBRD, FAO and other stake­hold­ers meant to offer spe­cial­ized train­ing to the whole Moroccan food chain. The core of those projects is to increase effi­ciency and prod­uct qual­ity.

Advertisement

In a note, EBRD explained that Al Dahra is a leader in agribusi­ness, spe­cial­iz­ing in the cul­ti­va­tion, pro­duc­tion and trad­ing of ani­mal feed and food com­modi­ties and sup­ply chain man­age­ment. The group man­ages and oper­ates a land bank of 350,000 acres glob­ally in addi­tion to for­age pro­cess­ing facil­i­ties and rice and flour mills, with total annual pro­duc­tion exceed­ing 4.5 mil­lion met­ric tons.”

EBRD began invest­ing in Morocco, one of its found­ing mem­bers in 2012. Since then, EBRD has invested over $2.23 bil­lion in 60 dif­fer­ent projects through­out the coun­try.



Related News

Feedback / Suggestions