Investment Plan for Europe in Belgium: support for innovation, research and development activities of company in the textiles sector

Source: European Commission press office

Brussels, 6th May 2021 – The European Investment Bank (EIB) and Vandewiele (VDW), a Belgian technology company active in the textiles sector, have agreed a €100 million loan to boost
VDW’s investments in research, development and innovation, as well as for improving the company’s carbon footprint. The loan is backed by the European Fund for Strategic Investments
(EFSI), the main pillar of the Investment Plan for Europe. The funds will support the ongoing digitalisation of the company as well as the development of innovative products.

At the same time, the company aims to lower its environmental footprint by reducing its energy use, waste production and use of raw materials, which will also be part of the activities financed
under this operation.

Commissioner for the Economy, Paolo Gentiloni, said: Thanks to support from the Investment Plan for Europe and the EIB, the Belgian technology company Vandewiele will
be able to boost its investments into innovation, digitalisation and production with a reduced environmental impact. This is a remarkable example of how the EU can help companies invest into
future-proof technologies and make their green and digital transition a success.

The
Investment Plan for Europe has so far mobilised €546.5 billion of investment, including €11 billion in Belgium.

The press
release is available online.

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