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Accelerating Transport to Zero Emissions
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Thu 04 December 2008 View all news
The European Investment Bank (EIB) is to provide an extra €2bn in loans to the car industry, designed to accelerate the development of 'greener' cars. There will also be extra funds for energy, climate and infrastructure projects.
European finance approved the near-doubling of loans from the EIB. The funds will be available to "clean transport" projects over the next two years. The new funds represent €4bn of a €5bn package for the car industry which was announced by the European Commission President in the context of a wider European economic recovery plan at the end of November.
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