India, Dec. 17 -- European Investment Bank (EIB) and STMicroelectronics have signed a €500 million financing agreement to boost Europe's competitiveness and strategic autonomy.

This represents the first tranche a broader €1 billion credit line recently approved by the EIB in favour of STMicroelectronics, a leading semiconductor manufacturer with a strong footprint in Europe including Italy, France, and Malta, and serving the automotive, industrial, personal electronics, and communication infrastructure markets.

Since 1994, the Bank has supported nine projects with ST, resulting in approximately €4.2 billion of financing. This new operation will help support ST's investment programme in innovative semiconductor technolo...