21 Ianuarie 2010
Government agrees to provide state guarantees for EIB loan to Ford
The Minister of Finance, Sebastian Vladescu will sign on Thursday on behalf of Romanian government the state guarantee agreement for the €400 million loan to Ford Romania from the European Investment Bank.
On behalf of EIB, the guarantee agreement will be signed by the vice president of the European institution, Matthias Kollatz Ahnen.
The European Investment Bank and Ford Romania signed the loan agreement for €400 million for the rehabilitation of the existent plant in Craiova.
On December 29, the Prime Minister Emil Boc said the Government would ratify the memorandum of understanding on the allotment of state guarantees to Ford, to help the US-based car maker carry out its projects in the country.
He added that the Executive has decided to disburse €320 million to Ford in the form of state guarantees, namely 80% of the total loan the car manufacturer will take out from the European Investment Bank.
The European Investment Bank and Ford Romania signed the loan agreement for €400 million for the rehabilitation of the existent plant in Craiova.
On December 29, the Prime Minister Emil Boc said the Government would ratify the memorandum of understanding on the allotment of state guarantees to Ford, to help the US-based car maker carry out its projects in the country.
He added that the Executive has decided to disburse €320 million to Ford in the form of state guarantees, namely 80% of the total loan the car manufacturer will take out from the European Investment Bank.