The Board of Directors of the European Investment Bank (EIB) has approved a loan request from Northvolt AB. The financing, a facility of up to EUR 52.5 million, is projected to be supported by InnovFin – EU Finance for Innovators’s Energy Demonstration Projects facility, with the financial backing of the European Union under Horizon 2020 Financial Instruments.
Highlights of the session included the second in a series of debates with EU leaders on the future of Europe, with Croatian Prime Minister, Andrej Plenković; and the debate and vote on the composition of the European Parliament after Brexit. The European Commission also made statements on fair taxation packages and the manipulation of scientific research by multinationals in the wake of revelations on emission tests on monkeys and humans by the German car industry. Parliament decided to set up a special committee on the Union’s authorisation procedure for pesticides (PEST). Parliament adopted agreed first-reading positions on, inter alia, a regulation on ending unjustified geo-blocking and two regulations on EU external action funds – among the priorities for 2018 in the Joint Declaration agreed by the Council, Commission and Parliament.
The European Commission has approved an investment package of €98.2 million to support Europe’s transition to a low-carbon, circular economy under the new LIFE funding programme for the Environment and Climate Action.