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Wednesday, June 17, 2009
The European Investments Bank invests in the car sector
The EIB signs a 400 million euro finance contract with FIAT, the italian motor group, in order to support R&D projects. The European Investment Bank (EIB) and the Fiat Group have signed the EUR 400m finance contract approved by the EIB's Board of Directors last March. The loan is intended to support the motor group’s research and development projects and comes under the European Clean Transport Facility (ECTF), the EIB’s plan targeting European manufacturers for projects aimed at reducing carbon dioxide emissions and achieving greater energy efficiency.
“I am grateful to the EIB for this loan”, stated Fiat’s CEO Sergio Marchionne, “which will contribute hugely to continuing the quest for more environmentally friendly solutions and to the development of technologies designed to reduce consumption and emissions. This is a strategic choice that Fiat has embraced with conviction for a while now both in traditional engines and alternative fuel sources such as methane, an area in which we are recognised as leading the way”.
Source European Investments Bank
More information EU Commission press room
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