EBRD is providing $7.2mn loan for new medical garments facility of Morocco’s Lamatem

By bne IntelliNews January 28, 2021

The European Bank for Reconstruction and Development (EBRD) has agreed to provide a €6mn ($7.2mn) senior secured loan, with a year-and-a-half grace period, to Lamatem to support a new capex programme for the production of medical garments and single-use personal protective equipment, in response to changing markets demand caused by the coronavirus (COVID-19) pandemic.

Lamatem's existing facility that produces high-end medical garments was supported by a first EBRD loan to the tune of €7.7mn extended in 2019. The facility started operations in the third quarter of 2019, mainly as a toll manufacturer for Molnlycke, a leading global supplier of medical solutions based in Sweden. In response to the changing market environment, Lamatem has now launched a new capex programme to meet increasing demand from Moroccan clinics and its new European clients. The programme also includes new product segments which require a sterilisation process. 

Lamatem is an export-oriented company established in 2016 near Casablanca to produce high-end medical garments, fully owned by the Badaa family. The total project cost for the existing and new facility is €20.7mn supported by €12.7mn financing from EBRD.

Related Articles

Egypt eyes $5.2bn in manufacturing investments for FY2025/26, says planning minister

The Egyptian government plans to attract EGP 252.8bn ($5.2bn) in investments to the manufacturing sector for FY 2025/26, Economy Plus reported on September 3, citing the country’s Minister of ... more

Egypt set to receive $500mn tranche from IMF Resilience and Sustainability Facility before end-2025

Egypt is set to receive the first tranche of $500mn from the International Monetary Fund’s (IMF) Resilience and Sustainability Facility (RSF) before the end of 2025, Asharq Business reported on ... more

Egypt targets $7.4bn in investment in pharmaceutical sector, plans 70 new factories by 2030

Egypt plans to attract EGP 350bn ($7.4bn) of investment into its pharmaceutical sector within the next five years, Gamal El-Lithy, head of the Chamber of Pharmaceutical Industry at the ... more

Dismiss