Gov’t to provide state guarantee to Ford carmaker

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Romania’s Government will provide a state guarantee 320 million euros worth to Ford carmaker, accounting for 80 percent of the value of the loan the company will contract with the European Investment Bank, announced Premier Emil Boc on Thursday during the meeting with Ford Europa President John Fleming.

As well, the Executive will promote a Memorandum for the approval of the negotiations report and, subsequently, in line with the public debt legislation, will promote a normative act with the power of law on this state guarantee for Ford company, the release remitted also said.
Premier Boc underlined during the meeting that the Executive will continue to back up the Romanian companies and those with foreign capital investing in Romania in order to surmount this period of economic crisis.

“Romania’s Government used and will use the mechanism of providing state guarantees as a measure of aid for Romanian and foreign companies, without discrimination, in this period when the economy needs support”, said Prime Minister Emil Boc. On this occasion, Ford Europa President John Fleming appreciated the collaboration with the Romanian state’s institutions, pointing out that Romania’s Government always proved to be a trustful partner.

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