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European Investment Bank grants EUR 500 million loan to Fiat Auto Serbia
Source: eKapija
Monday, 16.05.2011.
14:23
Monday, 16.05.2011.
14:23
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At its today's meeting with the delegation led by Bozidar Djelic, the European Investment Bank (EIB) approved a EUR 500 million to Fiat Automobiles Serbia.
This project envisages an investment in the modernization and expansion of production capacities of the plant in Kragujevac. The loan is expected to produce significant multiplication effects on the local economy and employment rate. Besides, this transaction will also contribute to the development of the network of suppliers.
The project's scope concerns the production of a new multipurpose vehicle and, as such, it is fully in line with the EIB's lending policy. The loan will also benefit from a euro 200 million guarantee of SACE, the Italia export credit agency, owned by the Italian Ministry of Economy.
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