EBRD provides €15m loan to Morocco’s automotive manufacturer Varroc Lighting Systems
The European Bank for Reconstruction and Development (EBRD) has announced a €15 million loan to Varroc Lighting Systems Morocco.
Founded in 1990, Varroc Engineering is a major player in the automotive lighting systems industry.
The EBRD’s financing will allow Varroc Engineering to supply the Tangier Renault factory and the Peugeot PSA plant in Kenitra, as well as other companies such as Volkswagen and SEAT. The project also includes the establishment of an engineering centre and laboratories.
This loan is the second after a €16 million provided in 2018 to finance the establishment of the company in Morocco.
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