European Investment Bank loans ST $470 million

The European Investment Bank (EIB) has signed a $470 million loan contract with STMicroelectronics NV to support of the company's industrial and R&D concerning next-generation semiconductor circuits. The EIB provides long term loans to private or public companies and projects. The objective of the loan to ST is to create technologies for the digital economy. It will focus on mobile convergence, multimedia, communications and computing. There will also be a strong focus on creating technology for improved energy efficiency within the telecommunications field. This will make a global impact on telecommunications.