Germany: EIB lends Volkswagen EUR 400 million to develop green technologies
This loan forms part of a financing programme to foster investment in research, development and innovation (RDI) designed to reduce emissions and improve energy efficiency in the European transport sector.
"With this loan, we are pleased to be able to promote green technologies in Europe while actively helping the car industry in these difficult times", said Matthias Kollatz-Ahnen, EIB Vice-President with responsibility for lending in Germany.
Against this background the EIB wishes to strengthen companies' investment capacity and support eligible projects, including those geared to compliance with the EU's passenger car emission limits for the period 2012-2020 and the achievement of other emissions and fuel efficiency targets in the transport sector. Such projects encompass RDI, the development of prototypes and new tools, the upgrading of existing and construction of new plant and accompanying measures to achieve these objectives.Note for editors
The European Investment Bank supports the EU's strategic and political objectives by providing long-term loans for economically viable projects. Its shareholders are the 27 EU Member States. In 2008 the EIB granted loans worth some EUR 7 billion in Germany.