Following an OLAF investigation, the European Investment Bank and Volkswagen AG have come to an agreement regarding a sub-project part of a loan of EUR 400 million that was granted in 2009 and fully repaid on schedule in February 2014. According to this agreement, the European Investment Bank will conclude its investigation and Volkswagen AG will in turn voluntarily not participate in any European Investment Bank project during an exclusion period of 18 months. Since October 2015, the consideration of loans by the European Investment Bank to Volkswagen AG had been under suspension.
Volkswagen AG is committed to its sustainability initiatives including environmental protection activities and, in this context, will contribute EUR 10 million to environmental and/or sustainability projects in Europe. Volkswagen AG will continue to inform the European Investment Bank regarding its Compliance Programme and cooperate with the European Investment Bank in the exchange of best practices in relation to compliance standards and the fight against fraud.Serbia-Bulgaria railway project on Corridor Xc launched
Construction work has begun on the Niš-Dimitrovgrad railway section near the Serbian city of Pirot. The project involves the reconstruction and modernisation of an existing unelectrified single-track railway line from Sićevo to Dimitrovgrad and the construction of the northern rail bypass around the city of Niš, as well as electrification and signalling work on both stretches. As part of the EU Economic and Investment Plan, the overall modernisation of up to 104 km of railway lines will result in shorter journey times and improved safety and regional connectivity, while enabling a gradual shift to more environmentally friendly transportation options.