Agreement reached between the European Investment Bank and Volkswagen AG in relation to EIB loan “Antrieb RDI”

The EIB has today published a detailed summary of the investigation report by the European Anti-Fraud Office (OLAF) into alleged misuse of EIB loan by Volkswagen AG. This was done in accordance with the EIB Group Transparency Policy and considering the strong public interest in this highly exceptional case.

With reference to media reports about the recall by the EIB of loans extended to Volkswagen following the launch of investigations into Volkswagen’s possible fraudulent use of the defeat device software in diesel engines, the EIB wishes to clarify that no such decision has been taken. The EIB is reviewing the status and contractual aspects of our loans to VW. We are in contact with VW to understand as rapidly as possible whether any of the EIB loans were used in the development or deployment of illegal software in cars. Any decision about possible measures that the EIB might take will follow, and be based on, the findings of this review.