In the exhaust affair has two loans from the European investment Bank (EIB) repaid early Volkswagen. In an interview with the “Neue Osnabrücker Zeitung” on Monday EIB chief Werner Hoyer said: “These were EUR 975 million, which the company has repaid early.”
the European Anti-Fraud Office (Olaf) determines whether VW loans the bank – which were meant for the development of low-emission engines – has unduly benefited. This could be the case if the funds were invested in the development of engines with exhaust gas control manipulated. The outcome of the case is open, the investigation will take to Olaf-information until at least the end of
Until the Enlightenment no new money
EIB chief Hoyer stressed. “We have now clarify whether parts of EIB financing were misused. ” As long as there would be no fresh money more from Luxembourg: “Until then, all our activities are with VW on ice.” It should not be ruled out that a relationship exists between the repaid early EIB lending and the activities there that would now investigated.
The Investment Bank will become more expensive in the future as a consequence of the exhaust affair some of their loans. The EIB President said: “We have to try as a bank that it will not happen again, we are talking to our reputation, in the case of Volkswagen to our reputation as a climate bank..” For this, the EIB will aggravate the contractual bases and control (monitoring) in some cases. “This may mean that more expensive for one or the other of the loan is” Hoyer said.
From procedure of VW “disappointed” had
The VW group added last September to have tampered with a prohibited software exhaust values in million diesel cars. VW is a longtime partner of the Bank, emphasized Hoyer: “We have worked closely and constructively worked with VW many years, so we are so disappointed with the approach at VW.” The EIB is the EU’s house bank and promotes inter alia, infrastructure and energy projects and research and development of companies
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