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European Investment Bank finances Airbus 500 mln euros for innovation

Xinhua, January 23, 2015 Adjust font size:

The European Investment Bank (EIB) and Airbus Group announced the signature of a 500 million-euro (560 million U.S. dollars) finance contract in support of Airbus Group's innovation and Research and Development programs in Europe, according to a press release issued on Friday.

According to the press release, the new agreement brought total EIB support for Airbus Group since 2011 to 1.3 billion euros. And about 400 million euros of the new contract will go to research, development and innovation activities in France.

The project aimed to promote the development of innovative products in order to reduce the aviation industry's environmental impact, particularly in terms of the energy efficiency of aircraft. It would serve to offer effective solutions that would directly impact aeronautical design and production, in particular by improving aircraft aerodynamics and optimizing passenger comfort and safety.

According to the press release, this was one of the EIB's large-scale loans for financing innovation in Europe. This sector is one of the key priorities of the European Union's bank, which in 2014 alone provided nearly 2 billion euros in support of projects of excellence in France. Endit