NIJMEGEN, Netherlands (Reuters) – Netherlands-based computer chip maker NXP said on Wednesday it has secured a 1 billion euro ($1.03 billion)loan from the European Investment Bank (EIB) to support research and development projects in five European countries.

The EIB, the European Union’s long-term lending institution, said the loan was a part of a investment programme it launched last 12 months geared toward strengthening Europe’s position in strategic technologies including microchips and artificial intelligence.

NXP, considered one of the biggest makers of semiconductors utilized in cars, said it will draw on the six-year loan facility, which carries a 4.75% rate of interest, for projects in Austria, France, Germany, the Netherlands and Romania.

Aside from the pure research and development of recent power electronics devices, microprocessors and microcontrollers, NXP may also give attention to the energy efficiency of its devices, it said in an announcement.

Europe must “remain an indispensable player in the worth chains of critical technologies,” EIB manager Robert de Groot said in an announcement.

“Semiconductors are key to the digital and green transitions.”

Earlier this month NXP announced a $625 million acquisition of Austria’s TTTech Auto.

($1 = 0.9710 euros)

(Reporting by Toby Sterling; Editing by Tomasz Janowski)