The European Bank for Reconstruction and Development granted Volkswagen a 250-million-euro loan to help the automaker build a new factory in Poland, but it seems the consequences of the emissions cheating scandal are more extensive than company might conceive.
The funding, agreed by the development bank board around the middle of the year, is now under questioning – two sources familiar with the insights of the matter told Reuters. The officials have revealed the financing project has been put on hold in the wake of the carmaker’s September disclosures. “It has been frozen,” one of the sources who spoke under the condition of anonymity said. “At the very least it (loan) is going to have to be repriced, but it could get pulled altogether,” he said.
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