EIB OKs EUR600M Loan To Ford For Operations In Romania, GermanyPublish date: 13-05-2009
The European Investment Bank approved Tuesday a EUR600 million loan to US carmaker Ford, for the construction and operation of a vehicle and engine plant in Craiova, Romania, and for research and development related activities for the plant carried out in Germany.
Out of the total amount, EUR400 million will go directly to its Craiova plant, and the rest indirectly, to Ford Europe's research and development center in Germany, according to an EIB release.
US carmaker Ford will invest EUR1.2 billion in its Romanian factory in southern city of Craiova and asked EIB for a EUR600 million loan.
EIB also approved a EUR150 million financing for a research and development project of DAF Trucks in the Netherlands.
Including these EUR750 million, the EIB has approved EUR5.2 billion in loans since last December for European car and truck makers, the institution also said.
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