Fiat, EIB Sign €400m Agreement
Italian carmaker Fiat and the European Investment Bank (EIB) have signed a €400 million loan agreement, that was approved by the EIB's Board of Directors last March.
The loan is intended to finance the carmaker's research and development projects.
Sergio Marchionne, CEO of Fiat, said: I am grateful to the EIB for this loan 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 recognized as leading the way, he added.
The loan 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.
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