European Union’s auto industry receives a promise of more loan assistance from the European Investment Bank, which is emerging as the EU’s key weapon to help the sector stave off the global economic recession. The EU-run financing institution’s board of directors today approved loans to Europe-based auto makers worth E866 million ($1.2 billion) to help them design and build more fuel-efficient cars with lower carbon-dioxide emissions. This money includes E400 million ($530 million) to ...
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