PARIS, May 27 (Reuters) - The European Investment Bank said on Monday it had decided to lend French carmaker Renault 400 million euros ($517.22 million)for development of a new generation of environmentally friendly vehicles. Among other things, the money would go towards work on developing far lighter material for cars, said a statement from the EIB, the European Union's investment arm. ($1 = 0.7734 euros) (Reporting By Brian Love; Editing by Christian Plumb)
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