EBRD and ATC signed the loan agreement during the EU Africa Business Forum 2022.
The funds will help ATC acquire equipment to set up the first automotive testing center of its kind in Africa.
The large-scale center, which is expected to start operations in 2022, will contribute to the sector’s competitiveness and the extension of supply chains in the country.
The industry suffers from a shortage of semiconductors, burdening the market’s productivity.
The center is set to receive the ISO 9001 certification on the quality management system to meet international standards.
The certification covers all aspects of the center’s activities, including testing, analysis, construction of equipment, and prototyping of vehicle powertrains and powertrain components.
Additionally, ATC will create and implement a training program for youth in the technical skills of automotive testing in Oued Zem. ‘
The EBRD emphasized that this project comes in response to the ongoing COVID-19 crisis, which has negatively impacted the Moroccan automotive sector.
Currently, Morocco has four integrated industrial clusters for the industry, in Casablanca, Kenitra, Rabat, and Tangier.
To promote equal access to opportunities, the European bank focuses on developing beneficiaries’ skills as well as creating inclusive and gender-responsive public goods and services as well as business environments.
To date, EBRD has invested nearly MAD 34 billion (US$3.6 billion) in Morocco through 80 projects.