The European Investment Bank (EIB) approved a EUR 100m loan to Grupo Antolin for financing its RDI strategy. Grupo Antolin will be able to develop innovative solutions for automotive interiors with the financial support from EIB. Grupo Antolin will have a competitive edge and will be in a position to design safer vehicles that are more comfortable, environmentally friendly and technologically advanced.
The agreement signed in Madrid has the support of the European Fund for Strategic Investments (EFSI) and will be made in Grupo Antolin’s innovation centers in Spain, Germany and France to help develop the company’s global competitiveness and implement Grupo Antolin’s European RDI strategy from this year until 2020 with a budget of about EUR 220m. The agreement will assist the European automotive industry to improve the capacity for innovation and development of new patents.
EIB has the support of the Investment Plan for Europe and finance projects with a higher risk profile owing to their structure or nature. Projects implementation will be within the established time frames (i.e. between 2018 and 2020) and will provide the resources needed to maintain current employment positions and continue creating high-quality jobs.
Highlighting the features of the loan, Emma Navarro, EIB Vice-President, said, “This agreement will enable the EIB to help foster innovation at Grupo Antolin, a major Spanish multinational in the European a automotive industry. As the EU bank, we are pleased to support a project fostering innovation investment in a key sector for the European economy, while also promoting highly skilled employment.”
According to Carlos Moedas, European Commissioner for Research, Science, and Innovation, investment in research and innovation is an investment in the future of Europe.