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    Reference: 20130041
    Release date: 4 April 2013

    Promoter – Financial Intermediary

    FIAT SPA

    Location

    Description

    Financing of Fiat Group research, development and innovation (RDI) activities in Italy during the period 2013-16 aimed at the development of advanced powertrain and vehicle technologies targeting increasing environmental sustainability and safety.

    Objectives

    The project concerns RDI investments on innovative technologies leading to lower consumption of fossil fuels and emission reduction as well as to increased vehicle occupant and pedestrian safety. More specifically, the project proposed for financing will include RDI activities for the development of more efficient Internal Combustion Engines (ICE), alternative fuel and electrified powertrains, lighter materials and vehicle architecture solutions as well as safer vehicle solutions. The project is expected to contribute to the company's targets of CO2 emission reduction, consistent with the objectives set by the EU regulation. The scope of the project appears consistent with the Bank's Policy for Lending to the Transport Sector, as it concerns investments in technologies with significant potential of innovation, leading to lower consumption of fossil fuel, emission reduction and enhanced safety. The project (subject to appraisal) potentially qualifies under the EIB Climate Action (mitigation). Subject to EC approval, a part of the project could also be eligible under RSFF - EC window

    Comments

    The Risk Sharing Finance Facility (RSFF) is an innovative credit risk sharing scheme jointly set up by the European Commission and the European Investment Bank to improve access to debt financing for private companies or public institutions promoting activities with a higher financial risk profile in the fields of research, technological development, demonstration and innovation investments.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 400 million

    Total cost (Approximate amount)

    EUR 860 million

    Environmental aspects

    The project concerns investments in research and development that are expected to be carried out in existing facilities already authorised and would therefore not require an Environmental Impact Assessment (EIA) under the Directive 2011/92/EU. Any possible environmental issue will however be verified during the project appraisal.

    Procurement

    The promoter is a private company not operating in the utilities sector and not having a status of contracting authority. Thus it is not covered by EU Directives on procurement.

    Status

    Signed - 20/11/2013

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Italy Industry