EBRD supports Morocco’s automotive sector with €15 Mln funding

The European Bank for Reconstruction and Development (EBRD) has approved a €15 million loan to Moroccan car equipment supplier, Tuyauto, which produces stamped metal components, exhaust systems, and heat shields.

The loan is guaranteed by the EU through the European Fund for Sustainable Development Municipal Infrastructure and Industrial Resilience program to support the company’s environmental improvements, including a building certification according to EDGE standards.

The funding will be used for 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 loan will also support the acquisition of new metal stamping equipment to meet the increasing needs of Stellantis in Morocco.

Morocco is a global producer and exporter of cars, with the automotive sector accounting for ‎‎25 per cent of its exports and directly supporting more than 200,000 jobs.

The country has ‎established four industrial clusters in Casablanca, Kenitra, Rabat and Tangier, and has several specialized training institutes that ensure a continuous supply of skilled labor.