According to bank documents, the project involves provision of an additional long-term loan to Varroc Lighting Morocco (VLS Morocco), a tier-1 automotive component company incorporated in Morocco, to finance its operations at the Tangiers Automotive City (TAC).
The Project supports the expansion of VLS Morocco's recently finished greenfield automotive lighting manufacturing facility and comes after the company won additional orders from its OEM customers.
Varroc Lighting Systems Morocco S.A. is ultimately owned by Varroc Engineering Limited, a global tier-1 automotive component group, established in India and involved in the design, manufacturing and supply of exterior lighting systems, electricals-electronics components, and precision metallic components.
ACCOUNTABILITY MECHANISM OF EBRD
The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at email@example.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.