IFC, EDC lend to CIE Automotive

IFC, EDC lend to CIE Automotive

Loans Debt Canada Mexico

CIE Automotive has obtained a $150m loan from the IFC and Export Development Canada to support its expansion in Mexico, according to a statement from the multilateral.

The Spanish automotive components manufacturer will use proceeds to acquire new machinery and increase the production capacity of parts helping service more efficient engines and electric vehicles.

These actions will reduce energy consumption from manufacturing operations by at least 20% and generate less Greenhouse Gas emissions.

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