EnergyWatch

Media: Volkswagen misused EU loan to carry out dieselgate

According to news media Politico, German car giant Volkswagen used a EUR 400 million loan from the European Investment Bank to develop the engine at the center of the dieselgate scandal.

Photo: Rainer Jensen/AP/RITZAU

German car giant Volkswagen used a EUR 400 million loan from the European Investment Bank (EIB) to develop illegal software which was fitted to 11 billion cars, reports Politico according to the EU's anti-fraud watchdog OLAF.

According to sources in OLAF, the agency opened a case in November 2015 to investigate the 2009 financing granted to Volkswagen by the EIB to develop an engine to better comply with EU and US emissions rules.

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