Brussels, 22/10/2009 (Agence Europe) - On Wednesday 21 October, the European Investment Bank granted loans worth €600 million to car manufacturers Saab Automobile AB and Renault. €400 million went to Saab to help fund research and development activities for the improvement of fuel efficiency and safety. This loan removes any doubt over the purchase of Saab, which has been put up for sale by its owner General Motors, by the Koenigsegg Group, with the sale expected to go through at the end of the month. French car maker Renault will receive €200 million to support a new production facility near Tangiers, Morocco, for manufacturing smaller cars, the EIB says on a press release. The loan will help fund the design, civil engineering, purchase of equipment and tooling of the new factory. Since December 2008 the EIB has approved loans to the automotive sector totalling €7.56 billion, with €4.52 billion of this from the EIB's European Clean Transport Facility (ECTF) designed to fund less polluting vehicles. So far this year, €3.6 billion has already been disbursed to the automotive sector and the EIB forecasts that this figure will reach around €6.0 billion by year-end. Further disbursements will follow in 2010, the Bank says. (O.L./transl.rt)