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Wacker Chemie Receives 230 Mln Euros In Financing From European Investment Bank - Quick Facts

Munich-based chemical group Wacker Chemie AG (WKCMY.PK,WKCMF.PK) announced Thursday that it received 290 million euros in financing from European Investment Bank (EIB). The new loan has a term of five years from the date of its drawing.

The financing of the EU bank, backed by the Investment Plan for Europe, will support Wacker's research and development programme with a strong focus on sustainability and energy efficient economy.

The funding of EIB is provided under the guarantee scheme of the European Fund for Strategic Investments (EFSI), which is the central pillar of the Investment Plan for Europe.

The financing will alo assist Wacker Chemie in reaching its sustainability goals, inter alia a 33% reduction in CO2 emissions by 2030 and to become fully carbon neutral by 2050.

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