EIB loans to support R&D activities in Finland and Austria
Both Finland and Austria are to benefit from European Investment Bank (EIB) loans aimed at strengthening research and development (R&D). The Finnish State Enterprise, Senate Properties, will receive a 40 million euro loan for the building, rehabilitating and extension of around one hundred buildings used for higher education and research. The improved facilities are expected to make a significant contribution to Finland's higher education and research strategies, which aim to maintain the highest possible standards and improve cooperation between academia and industry. Finland's ultimate aim is to transfer research findings into new business opportunities, particularly in the information technology and biotechnology sectors. 'The education sector loans are in alignment with the EIB lending priority arising from the conclusions of the European Council of Lisbon in 2000 supporting investment leading to the establishment of a knowledge-based society in Europe,' said Sauli Niinistö, EIB Vice-President. 'The EIB's approach to implementation of the Lisbon Strategy is focused on the links between knowledge creation and the market.' The Austrian company Voestalpine AG is also to receive 50 million euro for R&D and product innovation. The loan is intended to help the company meet demand for high quality steel products and components, and to further optimise metallurgical, welding and steel-forming processes in addition to R&D in the automotive industry.
Countries
Austria, Finland