Piaggio Group: 30 million euro loan from EIB to support Research and Development projects in Italy

Through a press release it was reported that the European Investment Bank (EIB) and the Piaggio Group (PIA.MI) have signed a 30 million euro financing contract, lasting 7 years, to support the Research and Development projects planned in the investment plan to be carried out at the Piaggio Group's Italian sites by 2021.

Information

The financing, combined with a previous contract signed last year, pushes the overall commitment of the EU Bank with the Piaggio Group for research and development projects for the three-year period 100-2019 to 2021 million and allows a further strengthening of the financial structure of the Group, contributing to the lengthening of the average duration and the reduction of the average cost of debt, again taking into account what has been indicated.

The financing contract signed with the EIB will support the development of innovative technological, product and process solutions in the areas of active and passive safety and sustainability, including electric propulsion systems and the reduction of consumption in thermal engines, functional to strengthening the overview of scooter, motorcycle and commercial vehicle products, as reported.

Photo: Piaggio Group