SWEDEN: European Investment Bank lends Volvo $520m

By just-auto.com editorial team | 22 December 2010

Volvo has secured a SEK3.5bn (US$520m) loan from the European Investment Bank (EIB) for research and development.

A statement from the EIB said: "The loan will help finance research, development and innovation in improved fuel efficiency and lower emissions, including new tooling for the production of cleaner and safer cars."

"The EIB loan has a Swedish state guarantee approved by the European Commission."