European Clean Transport Facility offers financial support
In light of the economic downturn, SMMT is organising a seminar outlining the variety of financial support schemes aimed at helping manufacturers in the motor industry. The options include European, national, and regional programmes. In preparation for the seminar, over the next three weeks SMMT will highlight an item from each group.
The European Clean Transport Facility (ECTF) is to provide €4 billion in 2009-10 and €4 billion in 2011-12 to support investments targeting research development and innovation, particularly aimed at reducing emissions and increasing energy efficiency. Under the ECTF, the European Investment Bank can finance up to 75% of eligible RDI expenditures and 50% of other project costs.
Key facts include:
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Companies of any size and ownership are eligible.
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Terms of loans could be up to ten years for R&D investment, and longer for factory investments.
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The facility is likely to finance larger scale projects in the region of €50 million or greater.
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The programme provides a wide spectrum of debt financing solutions.
The resource specifically covers all areas of the value chain in the transport sector including Tier 1 and Tier 2 supplier firms. Companies will be able to submit project applications immediately, with applications processed and funds released within three to four months.
For more information on this facility and others offered by the European Investment Bank, you are invited to attend the SMMT business support seminar to be held at Forbes House on 28 January 2009. Learn more here.
