ANNOUNCEMENT 28 Apr 2015

On 28 April 2015, the Brazilian Development Bank announced a loan to MMH Indústria e Comércio de Componentes Automotivos Ltda, a Fiat subsidiary. The loan, which is bound to the BNDES’s local content requirement policy, will finance two projects.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE



BNDES, 28 April 2015, ' Com financiamento de R$ 3,3 bi do BNDES, Dilma inaugura polo automotivo em PE': http://www.bndes.gov.br/SiteBNDES/bndes/bndes_pt/Institucional/Sala_de_Imprensa/Noticias/2015/Industria/20150428_polo_automotivo_Jeep.html

FCA Fiat Chrysler Autom?veis Brasil LTDA, website of Jeep Automotive Facilities plant in Goiana (PE) as of 16 October 2015: http://www.fcagroup.com/plants/en-US/Pernambuco/Pages/default.aspx

Pedro Kutney, 2 September 2015, 'Financiamento do BNDES ?s f?bricas despenca', Automotive Business: http://www.automotivebusiness.com.br/noticia/22612/financiamento-do-bndes-as-fabricas-despenca

FCA Fiat Chrysler Autom?veis Brasil LTDA, press release of 28 April 2015, 'Polo Automotivo Jeep ? inaugurado em Pernambuco para atender a Am?rica Latina': http://www.fiat.com.br/mundo-fiat/novidades-fiat/institucional/polo-automotivo-jeep-e-inaugurado-em-pernambuco-para-atender-a-america-latina.html


Inception date: 28 Apr 2015 | Removal date: open ended
Still in force

State loan

The Brazilian Development Bank announced a loan of 185.8 million real (USD 63.1 million) to MMH Indústria e Comércio de Componentes Automotivos Ltda, a Fiat subsidiary. The credit is going to finance manufacturing facilities for automotive supplies for Fiat's Polo Automotive Jeep production site.

AFFECTED SECTORS