ANNOUNCEMENT 08 Oct 2015

On 8 October 2015, the Brazilian Development Bank announced a loan to A FPT Powertrain Technologies do Brasil – Indústria e Comércio de Motores Ltda, a subsidiary of FCA Fiat Chrysler Automóveis Brasil Ltda. 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, press release of 8 October 2015, 'BNDES financia com R$ 37 mi moderniza??o da f?brica de motores da Fiat no Paran?': http://www.bndes.gov.br/SiteBNDES/bndes/bndes_pt/Institucional/Sala_de_Imprensa/Noticias/2015/Industria/20151008_fiat.html


Inception date: 08 Oct 2015 | Removal date: open ended

State loan

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.

AFFECTED SECTORS