ANNOUNCEMENT 21 Dec 2010

On 21 December 2010, the EIB provided financing worth EUR 500 million (USD 661 million).

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 21 Dec 2010 | Removal date: open ended

State loan

On 21 December 2010, the European Investment Bank (EIB) and Volvo Car Corporation signed an agreement worth EUR 500 million (approx. USD 661 million) for the project Volvo Cars Emissions Reduction R&d from Sweden. The total cost of the project is estimated at EUR 2000 million.

According to the project description issued by the EIB, R&D investments for future low emission engines and related chassis development for cars..

The objective of the project is defined as following: The project concerns investments in research and development for future low emission engines and related platform development for cars..

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.

AFFECTED SECTORS

 

AFFECTED PRODUCTS