VW Loans for Clean Engine Development Under Scrutiny, EIB Says
- Scandal risks European Investment Bank reputation: Hoyer
- EIB: no interest in seeking to `wreck a great global company'
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The European Investment Bank is looking into loans made to Volkswagen AG to help fund the development of cleaner engines in light of the emissions scandal, EIB chief Werner Hoyer said.
Volkswagen’s cheating on diesel emissions is a “great shock” and must be analyzed since it threatens to hurt the climate credentials of the development bank, Hoyer said in an interview Sunday in Lima, where he was attending meetings of the World Bank and the International Monetary Fund.