EU Greenlights Green Loan To Renault

The EU is very stingy when it comes to financial support for its automakers, and it prohibits most monetary assistance given by EU states to their industries. Of course, there are exceptions, and one such exception makes possible a $516 loan to Renault. "The European Investment Bank said on Monday it had decided to lend French carmaker Renault  400 million euros ($516.36 million) for development of a new generation of environmentally friendly vehicles," says Reuters. The money will go to developing lightweight materials and other green projects, Reuters was told by the EIB. from The Truth About Cars http://www.thetruthaboutcars.com

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