ANNOUNCEMENT 05 Jan 2015

On 5 January 2015, the Brazilian Development Bank (BNDES) announced to finance Fiat Automóveis in Betim (Minas Gerais). 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
Inception date: 05 Jan 2015 | Removal date: open ended
Still in force

State loan

The investment of 649.9 million real (USD 217.05 million) is going to finance the development of engine technology, vehicles, the Fiat Bravo line of cars, adapt certain production lines, civil works, installations, and the production capacity. 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