Original disclosure @ EBRD website
Updated in EWS Mar 15, 2023
Disclosed by Bank Feb 2, 2023
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This project involves a EUR 75 million participation in the long-term tranches of an ESG-linked Schuldschein by Valeo SE (the "Company"), a Societas Europaea incorporated and existing under the laws of France. The Bank's proceeds will support the Company's investments in Egypt, Tunisia and Turkiye.
The project will support Valeo's R&D efforts in Egypt as well as its green initiatives in Turkiye, contributing to achieving carbon neutrality by 2050. In particular, the use of proceeds will support: (i) the Group's R&D center in Egypt for developing software for Electric and Hybrid Vehicles, the site develops 50% of the Group's software production worldwide exporting 100% of its services across the globe; (ii) production of components for hybrid/electric vehicles in Turkiye; and (iii) new capex in Tunisia to build a greenfield plant.
Valeo is a tier-1 automotive supplier designing innovative solutions for smart and sustainable mobility, with a particular focus on intuitive driving and reducing CO2 emissions, through its production facilities and research & development centres in 31 countries.
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Borrower - Valeo:
Email: email@example.com / firstname.lastname@example.org
Phone: +33 6 67 88 89 33 | +33 6 81 73 83 41 | +33 1 40 55 37 93
Address: 100 rue de Courcelles 75017 Paris, France
ACCESS TO INFORMATION
You can request information by emailing: email@example.com or by using this electronic form: https://www.ebrd.com/eform/information-request
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: firstname.lastname@example.org or you can submit a complaint online using an online form at: 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