The European Bank for Reconstruction and Development (EBRD) confirmed it is investing up to EUR 80 mln in a six-year bond ESG issue by French auto parts maker Faurecia to back investments in Tunisia and three other countries by 2026.
The financing will be used exclusively to support Faurecia’s 2022-2026 investments in Tunisia, Morocco, Poland and Romania. These include R&D for electric vehicles and renewable energy generation through power purchase agreements (PPAs) in Poland and Romania, eligible under the Bank’s Green Economy Transition (GET) approach.
The proceeds of the Bank’s tranche will also finance growth capex in Faurecia’s manufacturing sites in Romania, Morocco and Tunisia.
Faurecia, headquartered in France, is a global automotive Tier-1 supplier listed on Euronext Paris stock exchange.
