EIB approves an additional EUR 750m to support cleaner transport
Tue 12 May 2009
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The European Investment Bank (EIB) has approved loans to European-based motor companies worth a total of EUR 750m to "help design and build cleaner vehicles with lower emissions".
EUR 150m was approved for a research and development project of DAF Trucks in the Netherlands while Ford will receive loans worth EUR 400m for the construction and operation of a vehicle and engine plant in Craiova, Romania, as well as an additional EUR 200m for the entire research and development related activities for the plant carried out in Germany.
With these latest loans, the EIB has approved EUR 5.2 bn in loans since last December for European car and truck makers.
EUR 3.5bn of these loans is provided under the EIB’s European Clean Transport Facility (ECTF). The Facility is part of the EIB’s wider response under the European Economic Recovery Package and targets significant reductions in the CO2 emissions of vehicles through research, development and innovation, as well as the production of cleaner and more fuel-efficient cars and other transport.
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