ANNOUNCEMENT 01 Aug 2019
In August 2019, the European Investment Bank (EIB) signed a loan agreement with FAZUA GmbH to support its research and development activities related to electric bike's drive system.
NUMBER OF INTERVENTIONS
The European Investment Bank, Financed Projects, FAZUA (EGFF): https://www.eib.org/en/projects/loans/all/20180810
The European Investment Bank, project summary, FAZUA (EGFF): https://www.eib.org/en/projects/pipelines/all/20180810
On 1 August 2019, the European Investment Bank (EIB) and FAZUA GmbH signed a loan agreement having a total value of EUR 12 million (approx. USD 13.3 million). The loan will support the company's research and development project related to the development of a new line of evation drive system for E-bikes.
According to the EIB: "The project will help the promoter achieve its objective of developing a new generation of pedelec drive systems and support the expansion of the serial production."
FAZUA GmbH has its headquarters in Germany with 590 service partners across Europe. The company produces and sells drive systems for E-bikes.
A state act in the GTA database is assessed solely in terms of the extent to which its implementation affects foreign commercial interests. On this metric, the investment support granted here is discriminatory.