January 12 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said it is investing up to 80 million euro ($91 million) in a bond issue by French auto parts maker Faurecia to back investments in Romania and three other countries by 2026.
The bank financing will go towards R&D for electric vehicles and renewable energy generation through power purchase agreements (PPAs) in Poland and Romania and will finance growth capex in Faurecia's manufacturing sites in Romania, Morocco and Tunisia, the EBRD said in a press release on Tuesday.
You can download the 2023 Automotive industry in Southeast Europe report here
The Faurecia Group is a global supplier in the automotive industry, producing systems with a wide use in the automotive industry. Faurecia carries out activities on the Romanian market through Faurecia Romania, a company specialised in the production of interior components for vehicles, car seats and clean mobility, with five local factories.
($= 0.882 euro)