BRUSSELS APPROVES EIB LOAN TO FORD WHILE OLD STATE AID PROBE REMAINS OPEN
November 1st, 2009
BY KEITH NUTHALL
WHAT a difference a year makes. The changed face of European Union (EU) controls over public subsidies to its automakers has been illustrated clearly by Friday's (13-11) decision by the European Commission to allow government guarantees backing a Euro 400 million loan to Ford Romania SA. This comes from European Investment Bank (EIB) - the EU's largest public financing institution - and it will now be underwritten by the Romanian state. The loan will co-finance a development project for low-CO2 engines and vehicle production at Ford's Craiova ...
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