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.President Hoyer discusses coordinating climate risk management at Spring Meetings of the World Bank and the IMF
President Hoyer joined Ministers of Finance and leaders of international finance institutions, central banks and other key stakeholders at the April 2021 minister-level meeting of the Coalition of Finance Ministers for Climate Action, on the margins of the Spring Meetings of the World Bank Group and the International Monetary Fund. Speaking live in a session on the roles of ministries of finance and central banks in coordinating climate risk management, President Hoyer discussed lessons learned to identify and manage climate-related financial risks as well as opportunities and approaches for effective climate and nature-related financial risk management.