A EUR 55 million loan from the EIB to TOFAS under the EU InnovFin program will increase competitiveness of the Turkish car industry

November 14, 2014

The European Investment Bank (“EIB”) has concluded a EUR 55 million agreement with one of Turkey’s main car manufacturers Türk Otomobil Fabrikası A.Ş. (“TOFAS”) for the R&D project. This is the first EIB loan to a Turkish company within the framework of the InnovFin – EU Finance for Innovators under the EU Horizon 2020 Financial Instruments (“InnovFin”). 


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