LUXEMBOURG/ESSEN (dpa-AFX) - The European Investment Bank (EIB) is granting a loan of 500 million euros to the chemicals group Evonik to finance research and development activities in Europe. The financing is intended to help the company become more environmentally and climate-friendly more quickly, the EIB and the Essen-based company announced on Wednesday. The loan is to be used for particularly sustainable products.

According to the information provided, examples of this include bio-substances contained in detergents and shampoos (biosurfactants) and membranes for gas filtration. The corresponding portfolio currently accounts for 43 percent of Group sales and is expected to account for over 50 percent by 2030. Europe is therefore the company's core region for the majority of research and development.

The EIB loan has a term of six years after being called up and, according to the company, has attractive conditions. Maike Schuh, Chief Financial Officer of Evonik, said: "We work every day on energy-efficient, durable, bio-based and circular solutions." The EIB financing is a valuable recognition.

The EIB is the EU institution for long-term financing. The owners are the Member States. The bank's mission is to finance investments that contribute to the achievement of EU policy objectives. Most recently, it has been particularly active as a lender for climate protection and support for Ukraine./rdz/DP/mis