Editorial & Advertiser disclosure

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Finance

Chipmaker NXP gets 1 billion euro loan from EIB for European projects

Published by Global Banking and Finance Review

Posted on January 15, 2025

Featured image for article about Finance

NIJMEGEN, Netherlands (Reuters) - Netherlands-based computer chip maker NXP said on Wednesday it has secured a 1 billion euro ($1.03 billion)loan from the European Investment Bank (EIB) to support research and development projects in five European countries.

The EIB, the European Union's long-term lending institution, said the loan was part of a investment programme it launched last year aimed at strengthening Europe's position in strategic technologies including microchips and artificial intelligence.

NXP, one of the largest makers of semiconductors used in cars, said it would draw on the six-year loan facility, which carries a 4.75% interest rate, for projects in Austria, France, Germany, the Netherlands and Romania.

Apart from the pure research and development of new power electronics devices, microprocessors and microcontrollers, NXP will also focus on the energy efficiency of its devices, it said in a statement.

Europe must "remain an indispensable player in the value chains of critical technologies," EIB manager Robert de Groot said in a statement.

"Semiconductors are key to the digital and green transitions."

Earlier this month NXP announced a $625 million acquisition of Austria's TTTech Auto.

($1 = 0.9710 euros)

(Reporting by Toby Sterling; Editing by Tomasz Janowski)