France: EIB reinforces its support of Airbus Group's innovation programmes
8 March 2016
The European Investment Bank (EIB) and Airbus Group have announced the signature of a € 300 million finance contract to support Airbus Group SE's innovation and R&D programmes in Europe. This new agreement brings the EIB’s total support for Airbus Group to € 1.6 billion since 2011.
The project concerns research, development and innovation (RDI) activities for the development of innovative aircraft, with improved energy efficiency and reduced operating costs. It will serve to offer effective solutions that will directly impact aeronautical design and production, in particular by optimizing passenger comfort and safety.
Welcoming the signing of the loan, EIB Vice-President Ambroise Fayolle said: "The EU Bank is very proud to finance a flagship of the European aeronautics industry.This cross-border signature symbolizes the strong EIB commitment to supporting the development of innovative and high added-value projects in Europe. Innovation is driving the international competitiveness of companies and employment. That is why we offer financial products tailored to develop the technical and industrial excellence of these companies.”
Airbus Group Chief Financial Officer Harald Wilhelm said this latest agreement further strengthens the Company’s long-standing relationship with the EIB. “Innovation is the lifeblood of Airbus Group and we are pleased that the EIB is again supporting us to develop the world’s most capable and efficient aircraft. We share a common long-term vision regarding the development of the aeronautical industry in Europe.”
With fostering innovation as one of its top priorities, the EIB Group provided more than €18 billion in 2015 to support innovative programmes within the European Union. In France in 2015, 18% of the Group's total investment of just over €8.7 billion was devoted to supporting SMEs, innovation, and R&D.
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