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TunisiaEBRD strengthens Moroccan automotive sector
The European Bank for Reconstruction and Development (EBRD) is promoting the automotive sector in Morocco through a €15 million loan to Tuyauto, supported by an unfunded first-loss risk cover from the European Union.
The investment will finance the construction of a new EDGE-certified green production facility near Rabat – 100 km from Tuyauto’s existing facility in Casablanca – in which the tubular structures of various car models will be welded and assembled. The EBRD funds will also support the acquisition of new metal stamping equipment to meet the increasing needs of Stellantis in Morocco.
The EBRD’s loan is complemented by a guarantee from the European Union through the European Fund for Sustainable Development Municipal Infrastructure and Industrial Resilience programme to support the company’s environmental improvements, including a building certification according to EDGE standards.
Morocco is a founding member of the EBRD and became a beneficiary of Bank resources in 2012. To date, the EBRD has invested more than €4.7 billion in the country through 105 projects.
Countries covered:
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Morocco
