Ford file under scrutiny for loan guarantee

President of the State Assets Realization Authority (AVAS) Mircea Ursache declared on Thursday in Craiova that the inter-ministerial committee in charge is currently analyzing the Ford file whereby the company applies for a sovereign guarantee for 80 percent of the EUR 400 million loan obtained from the European Investment Bank (EIB) for the Craiova-based plant (south-west of Bucharest).

„The post-privatization assessment showed that Ford has entirely fulfilled its obligations. The only problem there is obtaining sovereign guarantees for 80 percent of the loan they are taking from the EIB.
They have a EUR 400 million loan approved, intended precisely for the Craiova plant and 80 percent of this loan is subject to sovereign guarantee through Eximbank. The inter-ministerial committee I also sit on is currently analyzing the file,” said Ursache.

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