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Investment Plan: EU invests heavily in Research Development & Innovation, as well as technologies to combat climate change

The European Investment Bank (EIB) announced on 12 December that it will provide €100 million of financing to help implement the five-year investment plan of the Acsm Agam Group in Italy.

date:  19/12/2019

See alsoInvestment Plan for Europe: the Juncker ...

The EIB loan is backed by the European Fund for Strategic Investments (EFSI), the financial pillar of the Investment Plan for Europe, the Juncker Plan. The financing will support projects in the environment sector, water and electricity networks, hydroelectric power plants, district heating, street lighting, energy efficiency and smart cities, and IT security. On the same day, the EIB said it is providing Research, Development & Innovation financing of up to €100 million to Ottobock SE & Co. KGaA, a world-leading manufacturer and supplier of prosthetic limbs, orthotic supports and wheelchairs. In another RDI deal signed on 10 December, the EIB is providing a €50 million loan to Prodrive Technologies, a Dutch tech company active in the design and manufacturing of electronics, software and mechanics. Underlining its commitment to addressing climate change, the EIB announced on 10 December during the UN Climate Change conference in Madrid, COP 25, that it has invested €76.5 million in one of the largest solar projects in Spain. The EIB also announced at COP 25 that it is joining forces with IM2 Energía Solar to create a platform for building and operating photovoltaic power plants in Spain, by providing €26m for the Solar Storm 200 project. The EIB is also supporting the expansion of more environmentally-friendly production of lead and zinc in Bulgaria by providing a €65 million loan to KCM AD, a Bulgarian producer of lead and zinc, to raise its production output by 25%.