EIB to provide PSA Peugeot Citroën with €300 million of financing for the development of low carbon technologies
- Release date: 09 October 2013
- Reference: 2013-159-EN
Philippe de Fontaine Vive, Vice President of the European Investment Bank, and Jean-Baptiste de Chatillon, PSA Peugeot Citroën’s Executive Vice President, Finance and a member of the Management Board, have today signed an agreement for the provision of €300 million in financing for the development of low carbon technologies.
This financing will be used by the Group for the programme to comply with Euro 6.2 emission standards applicable as from 2017.
The €792 million programme, to be implemented in France between 2013 and 2017, reflects the Group’s on-going R&D commitment and the European Investment Bank’s lending priorities to promote sustainable development and innovation.
“I am very happy to be signing this financing agreement with PSA Peugeot Citroën today,” said Philippe de Fontaine Vive, Vice-President of the EIB. ”This EIB loan perfectly illustrates Europe's commitment to innovation, sustainable development, and its citizens, who will benefit most from this major project. It also gives French industry a competitive edge. By securing this financing, we are supporting renewed growth in France.”
“Our Group is leading the way in low carbon technologies,” said Jean-Baptiste de Chatillon, PSA Peugeot Citroën’s Executive Vice President, Finance and a member of the Management Board, “and this loan will allow us to maintain our advance.”