Piaggio signs 60 mln euro loan with European Investment Bank

MILAN Wed Nov 28, 2012 11:45am EST

MILAN Nov 28 (Reuters) - Italian scooter maker Piaggio said on Wednesday it signed a seven-year, 60 million euro loan with the European Investment Bank (EIB) to fund research and development projects in Italy from 2013 to 2015.

The projects aim to improve the safety and energy efficiency of its scooters, motor cycles and commercial vehicles, as well as developing motors powered by alternative fuel technologies.

The terms are the loan are highly competitive, Piaggio said. (Reporting by Jennifer Clark, editing by x)

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