The European Investment Bank has approved loans to European-based automotive companies worth a total of EUR 750m to help them design and build vehicles with lower emissions.

EUR 150m was approved for a research and development project by DAF Trucks in the Netherlands, while Ford will receive loans worth EUR 400m for the construction and operation of a vehicle and engine plant in Craiova, Romania, the technical rehabilitation of the existing plant as well as an additional EUR 200m for the entire research and development related activities for the plant carried out in Germany.