The Brazilian Development Bank announced a loan of 37.1 million real (USD 10 million) to A FPT Powertrain Technologies do Brasil – Indústria e Comércio de Motores Ltda, a subsidiary of FCA Fiat Chrysler Automóveis Brasil Ltda.
The loan will finance the modernization of an engine factory situated in Campo Largo, state of Paraná. The goal is to improve the quality of the engines and to modernize the equipment used in the production of the engines.
The measure is considered discriminatory since, in general, the Brazilian Development Bank provides credits with below-market interest rates only to legal persons (private or public) based in Brazil.
