Mirova acquires stake in Moroccan citrus producer

Following 2021’s closing of its fund dedicated to sustainable land use, at more than $200 million, investment manager Mirova unveiled an investment in Morocco’s Atlas Fruits Company. It will support Atlas Fruits to implement sustainable practices in the citrus production sector in Morocco, with a particular focus on water resource management.

The Land Degradation Neutrality Fund (LDN fund), managed by Mirova, will acquire a minority stake in Atlas Fruits to improve irrigation systems, set up agroforestry systems, and develop precision farming in existing orchards.

The LDN fund has invested nearly 60% of its assets and is targeting the completion of its investments by the end of 2022, with projects in Africa, Latin America, and Asia currently under review.

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