The European Bank for Reconstruction and Development (EBRD) has awarded a €24mn loan to Moroccan agricultural inputs producer Elephant Vert, to support the increased use of sustainable climate-friendly products.

Elephant Vert produces bio-fertilisers, bio-pesticides and bio-stimulants. The loan will help development, output and distribution of the products which are used to boost agricultural yields while remaining environmentally friendly.

“The switch away from chemical fertilisers should lead to significant greenhouse gas emission savings of over 150,000 tonnes of carbon dioxide equivalents each year in Morocco,” says the EBRD.

“Elephant Vert’s business model is based on recycling and contributes to our objective of supporting a more circular economy,” says Adil Chikhi, EBRD director for industry, commerce and agribusiness in the region.

“The production process consumes waste, leading to reduced landfills; and the final product is environmentally friendly, reduces water consumption in agriculture and fights soil degradation.”

Marrakesh will host the 22nd session of the Conference of the Parties (COP 22) to the United Nations Framework Convention on climate change (UNFCC) later this year.