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Novares Morocco, a Moroccan subsidiary of the French automotive supplier Novares Group, is granted a loan of 16.5 million euros by the European Bank for Reconstruction and Development (EBRD). [19659002Establishedin21countrieswith10000employeesand42productioncentersNovares(12billioneurosturnoverin2017)isaglobalsupplierofplasticsolutionsdesigningandmanufacturingcomplexcomponentsandsystemsfortheautomotiveindustry
The project in Morocco will notably supply the Peugeot PSA plants at Kenitra and Renault in Tangiers . It includes the training of more than 180 young people.
"This is the third EBRD-financed project in the automotive sector in Morocco, after Faurecia and Varroc Lighting Systems, and which will help to developing the automotive sector and increasing the local integration rate, "says Adil Chikhi, director of the EBRD's corporate activities in the region
The EBRD is an international organization whose mission is to help countries integrate in the market economy by having a positive impact on the lives of their people. Since 2012, it has invested nearly 1.5 billion euros in Morocco through 36 projects.
The EBRD also provided technical assistance to more than 450 local companies.
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