European Investment Bank supports EADS innovation programmes
Amsterdam, 18 March 2013
The European Investment Bank (EIB) and EADS have announced the signature of a € 300 million finance contract in support of EADS Group’s innovation and R&D programmes. This loan reflects the long-standing quality partnership that has formed between the EIB and EADS over the past ten years. It represents the second tranche of a first agreement signed in August 2011, whereby the EIB already made available € 500 million to EADS. This new finance contract brings the total volume of the EIB support under this agreement to € 800 million.
This is a flagship financing operation for the EIB, one of the first major loans to finance innovation in Europe since the Member States unanimously decided to give the bank of the European Union the means to stimulate the economy by increasing its capital by € 10 billion. This commitment so early in 2013 enables the Bank to step up its support for innovation and projects fostering growth and employment in Europe.
This project is focused on developing innovative products aimed at reducing the impact of aviation on the environment in terms of energy efficiency, pollutant emissions (CO2, nitrogen) and noise. It will serve to develop effective solutions that will have a direct impact on aeronautics design and production, e.g. by improving aircraft aerodynamics and optimising safety and flight control systems.
EIB Vice-President Philippe de Fontaine Vive welcomed the signature: “This first major loan following the EIB’s capital increase demonstrates our priority commitment to innovation and R&D in Europe. The Bank aims to help develop a successful and competitive economy by focusing on leading-edge technologies, which hold the key to the future in terms of sustainable economic development. This sector is also a source of employment for young people.”
“Innovation and research are at the heart of EADS’ mission and essential to guarantee the long-term success of the group. The EIB is one of our privileged finance partners, which has been supporting EADS for several years in developing ever innovative technologies.
We very much appreciate this new agreement which demonstrates the solidity of our relationship and our joint will to accompany the sustainable development of air transport”, said Harald Wilhelm, Chief Financial Officer of EADS & Airbus.
The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.
EADS is a global leader in aerospace, defence and related services. In 2012, the Group – comprising Airbus, Astrium, Cassidian and Eurocopter – generated revenues of € 56.5 billion and employed a workforce of over 140,000.
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